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Thai central bank keeps 2016 GDP growth forecast, cuts export projection

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Thailand's central bank on Wednesday maintained its 2016 economic growth forecast at 3.1 per cent while saying exports will drop more this year than it forecast three months ago.

[BANGKOK] Thailand's central bank on Wednesday maintained its 2016 economic growth forecast at 3.1 per cent while saying exports will drop more this year than it forecast three months ago.

The Bank of Thailand (BOT) now expects exports to fall 2.5 per cent this year, rather than 2 per cent as seen earlier.

Thai shipments, worth more than 60 per cent of the economy, have contracted the past three years.

The BOT also kept unchanged its forecast for headline inflation of 0.6 per cent this year.

or 2016, the government planning agency predicts GDP growth of 3.0-3.5 per cent while the International Monetary Fund projects 3 per cent.

Last year's growth was 2.8 per cent.

REUTERS

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