BOT reduces GDP growth estimate slightly in view of export slump

The Bank of Thailand (BOT) is reducing its estimation of GDP growth to 3.5% from 3.6% due to the country’s stagnant export sector and global economic slowdown.

BOT governor Sethaput Suthiwartnarueput was speaking about Thailand’s economic trends on Monday at the bank’s annual seminar titled “Next Step of Thailand’s Economy and Finance”. The forum was held at BOT’s regional office in Chiang Mai.

“We expect to see around 3.5% year-on-year economic expansion this year and next,” he said, adding that the inflation rate for this year will remain within the target of 1-3%.

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The Nation Reporter