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Thai planning agency to cut 2015 GDP, export forecasts: deputy

[BANGKOK] Thailand's state planning agency will lower its 2015 economic growth forecast of 3.0-4.0 per cent seen in May as exports are now expected to contract for the third year this year, a senior agency official said on Friday.

The economy would probably grow around 3 per cent this year and it's "possible" that exports will contract 1-2 per cent rather than rise 0.2 per cent as seen earlier, Porametee Vimolsiri, deputy secretary general of the National Economic and Social Development Board (NESDB), told Reuters in an interview.

Mr Porametee said 2015 growth of 3 per cent or slightly lower should be "understandable", given current global conditions plus a drought at home.

The NESDB is due to give new projections, along with second-quarter GDP data, on Aug 17.