TCC lowers economic forecast
The Thai Chamber of Commerce revised down Thailand's 2013 economic growth forecast from 5-6 per cent to 3.5-4 per cent.
Kalin Sarasin, secretary general of the chamber, attributed the downward revision to the prolonged slowdown in global demand, which substantially hurt Thailandâ€™s exports. Exacerbating the situation is the weakening domestic demand.
Yesterday, the National Economic and Social Development Board chopped off its projection from 4.2-5.2 per cent to 3.8-4.3 per cent.
Kalin said that under this condition, private investment could fall accordingly. The government should tackle this problem by rushing on government investment projects and boost border trade as well as tourism.