IMF pushes up Thai growth forecast to 3.7% for 2015

[BANGKOK] The International Monetary Fund (IMF) slightly revised up its forecast for Thailand's 2015 economic growth to 3.7 per cent from 3.5 per cent seen in February, but reiterated that risks to the outlook were tilted somewhat to the downside.

Thailand could consider easing monetary policy further if the expected economic recovery was delayed, the IMF said in its 2015 Article IV Consultation with Thailand.

Thailand's military government has struggled to revive growth in Southeast Asia's second-largest economy since seizing power in May to end prolonged political unrest that hurt domestic activity and tourism.

Growth was 0.7 per cent last year. "The recovery is expected to continue in 2015 with growth projected at 3.7 per cent on account of some rebound in consumption, including from lower fuel prices, and in private investment as backlogs of project approvals have been largely cleared by various government agencies," it said.

REUTERS