BOT cuts growth forecasts

Breaking News December 26, 2014 14:30

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Bank of Thailand has lowered the economic growth forecasts for 2014 and 2015 in light of downside risks.



In the Monetary Policy Committee Report, released after the December meeting, the 2014 forecast was revised down from 1.5 per cent to 0.8 per cent, while the 2015 forecast was cut from 4.8 per cent to 4.5 per cent.
"Downside risk comes from possibility of slower-than-expected global economic recovery and thus exports, and low farm income making a greater impact on consumption than expected," said Mathee Supapongse, assistant governor of the Bank of Thailand (BOT) and secretary of the Monetary Policy Committee (MPC), in the report.
"Upside risk stems from higher government disbursement than expected leading to more confidence in government policy and higher investment than expected."
The Nation

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