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Thai central bank: GDP growth still seen at 1.5% despite govt measures

Thursday, October 2, 2014 - 16:11

[BANGKOK] The measures the Thai government announced to boost the sputtering economy will not change the central bank's forecast of 1.5 per cent growth this year, the central bank governor said on Thursday.

However, the economy has bottomed out and is likely to grow 3 per cent in the second half from a year earlier, Bank of Thailand Governor Prasarn Trairatvorakul told a seminar.

The economy contracted 0.1 per cent in the first half due to poor exports and months of political unrest that culminated in a military coup in May.

On Wednesday, the junta announced a plan to spend a combined 364 billion baht (US$11.2 billion) aimed at creating jobs and income to help stimulate economic growth. - Reuters