Thailand downgrades growth forecast
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Bangkok (dpa) - Thailand's planning agency on Monday downgraded its 2015 economic growth forecast from 3-4 per cent down to 2.7-3.2 per cent.
The revisions were due to a sluggish global economy and economic problems in China, said Akhom Termpithayapaisit, secretary general of the National Economic and Social Development Board.
If the government wanted gross domestic product growth to rise above 3 per cent for the year, it would need to inject cash into the economy quickly, he said.
The board's downgrade follows a similar downgrade by Thailand's central bank this month, which lowered its GDP forecast to slightly under 3 per cent from almost 4 per cent.
Prime Minister Prayut Chan-o-cha has said he would reshuffle his cabinet in September in response to growing criticism over the economic slowdown.
