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Thai central bank cuts 2016 growth forecast

by ChemOrbis Editorial Team -
  • 28/12/2015 (11:29)
According to media reports, Thailand’s central bank revised its 2016 growth forecasts downward due to an anticipated lack of export growth. The bank now expects to see economic growth of 3.5% in 2016, down from its previous growth estimate of 3.7%. According to the bank, the country’s exports will show no growth next year. However, the bank revised its growth expectation for this year to 2.8% from its earlier forecast of 2.7% owing to better than expected government investment and private consumption.

Exports are expected to decline 5.5% this year and to follow a stable trend in 2016. Previously, the bank had expected exports to grow 1.2% in 2016.

For the final quarter of this year, meanwhile, the bank forecasts to see a growth rate of 2.7% on a yearly basis and 0.8% on a quarterly basis. In the third quarter of this year, the Thai economy expanded 2.9% on the year.
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