BoT cuts 2021 GDP rise to 0.7%

The Bank of Thailand (BoT) has slashed its economic growth projection for this year again to 0.7% as the third wave of Covid-19 has had a more severe impact on the country’s economy since the central bank conducted its earlier projection.

The BoT’s Monetary Policy Committee (MPC) meeting on Wednesday decided to cut GDP growth forecast for 2021 to 0.7% from 1.8% last month.

In addition, the Thai economy for 2022 was projected to expand 3.7%, a decline from its previous forecast of 3.9%.

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Somruedi Banchongduang