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Thailand to adjust this year’s GDP growth

The Bank of Thailand (BoT) is preparing to adjust the 2013 GDP growth figure following a drop in domestic consumption and investment, and the Chinese economic slowdown.
The Bank of Thailand (BoT) is preparing to adjust the 2013 GDP growthfigure following a drop in domestic consumption and investment, and theChinese economic slowdown.

According to BoT GovernorPrasarn Trairatvorakul, the bank will, next month, lower its projectionof Thailand’s GDP growth due to the decrease in three economic factorswhich include domestic consumption and investment, and the economicdownturn of the world’s economic leader China. According to thegovernor, the figure will be adjusted down from the bank’s earlieranticipation of 5.1 percent growth.

Prasarn stated thatdespite the higher-than-expected GDP growth in the last quarter of 2012,Thailand, in the first three months of this year, saw only a 5.3percent GDP growth which is lower than that of the same months in 2012,and 2.2 percent lower quarter-on-quarter.

The governor furtherdisclosed that the next Monetary Policy Committee meeting will be heldon July 10 while the result of the GDP adjustment will be announced onJuly 19.-VNA
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