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Thai central bank says may cut growth estimates as risks rise

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Thai tourism revenue is forecast to grow nearly 9 percent in 2016 to touch 2.4 trillion baht (S$95 billion), the country's tourism minister said on Monday, on the back of increased focus on visitors from the ASEAN region and domestic travellers.

[BANGKOK] Thailand's central bank may revise down its economic growth projections for this year and next due to economic risks from China and Asia, a deputy governor from the country's central bank said on Tuesday.

"Our estimates are not in line with those previously announced - there are more downside risks at the moment," Bank of Thailand Deputy Governor Paiboon Kittisrikangwan told reporters, citing higher risks from a regional economic slowdown and the impact of drought on farm products as the reasons for downward revisions.

The central bank forecast economic growth of 2.7 per cent for this year and 3.7 per cent for 2016. It is due to give new projections on Dec 25.

Last year, the economy grew just 0.9 per cent, hurt by weak exports and prolonged political unrest that led to an army coup last May. The junta has since struggled to lift growth.