BOT revises economic forecast downward

By The Nation

Bank of Thailand has revised downward Thailand's economic forecast from minus 1.5 to minus 3.5 to minus 3 to minus 4.5 per cent, due mainly to political instability which could affect budget disbursement, the flu pandemic, global economic crisis and renewed spike in oil prices.

Core inflation was also revised down to minus 0.5 per cent, from 0-1 per cent, while headline inflation would contract 1.5 per cent to 0 per cent, from minus 1 per cent to 1 per cent.

Atchana Waiquamdee, deputy governor, said the revision was based on the 7.1 per cent economic contraction in the first quarter, as well as the sharper-than-expected contraction in other indicators.

This year's exports are expected to contract 19.5-22.5 per cent.

BOT revises economic forecast downward

Bank of Thailand has revised downward Thailand's economic forecast from minus 1.5 to minus 3.5 to minus 3 to minus 4.5 per cent, due mainly to political instability which could affect budget disbursement, the flu pandemic, global economic crisis and renewed spike in oil prices.

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