BANGKOK, 27 Sep 2014, The Bank of Thailand (BoT) has maintained its projection of Thailand’s Gross Domestic Product (GDP) growth at 1.5%, but adjusted down the projection for next year to 4.8% from the previous 5.5%.
According to BoT’s Monetary Policy Affairs Director Methee Suphapong, factors contributing to the slower GDP growth for 2015 include the lower-than-expected export growth and economic sluggishness in the kingdom’s trading partners.
The national bank predicted that the export sector would grow by 4%, down from 6% predicted earlier, adding that public spending and private investment would expand 4% and 10.2% respectively.
The BoT viewed that the Government’s spending would also expand, thanks to its various projects. The move would in turn restore the economy back to its balance.