ADB lowers growth forecast for Thailand
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The Asian Development Bank has lowered its 2015 economic growth forecast for Thailand, in light of slowdown in the Chinese economy and disappointing rebound in major economies.
The bank cut the 2015 and 2016 forecasts for Thailand to 2.7 per cent and 3.8 per cent. It previously projected the forecasts at 3.6 per cent and 4.1 per cent, respectively.
In the updated version of Asian Development Outlook released yesterday, the bank also said that the direct spillover impacts from China's economic slowdown could cut Thailand's growth rate by 0.2 percentage point.
