Bank of Thailand forecasts GDP growth at less than 3%

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BANGKOK, 2 December 2013 (NNT) — Governor of the Bank of Thailand (BOT) Prasarn Trairatvorakul stated that this year’s GDP forecast would be less than 3%. 

Mr. Prasarn pointed out that the current political turmoil has affected the country’s local consumption of goods, potential investments, as well as the tourism sector.

The extent of the impacts, he said, would depend upon the development of the situation, adding that he would continue to keep a close watch on any changes.

Recently, the BOT has lowered its estimation of Thailand’s GDP growth for this year to less than 3%, not yet taking into account the effects from the political unrest.