Thai central bank cuts 2015 growth, export forecasts again
[BANGKOK] Thailand's central bank on Friday cut its forecast for 2015 economic growth for a third time this year to 2.7 per cent from 3.0 per cent seen in June and said exports would contract for the third straight year.
The central bank slashed its export growth projection for 2015 to a 5.0 per cent decline from a 1.5 per cent fall seen earlier, Assistant Governor Mathee Supapongse told a news conference.
Thai exports, equal to more than 60 per cent of the economy, dropped in both 2013 and 2014.
The military seized power in May 2014 to end political unrest but has struggled to move the economy ahead as shipments and domestic demand have remained sluggish.
Southeast Asia's second-largest economy grew only 0.9 per cent in 2014, its weakest pace since flood-hit 2001.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Overcrowded Venice introduces first payment charge for tourists
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India’s Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah