BoT reveals 2013 economic forecasts were as predicted


BANGKOK, 18 February 2014  The Bank of Thailand (BoT) has revealed that the country’s 2013 economic figures expanded in line with its analysts’ previous forecasts. 

Spokesperson for the BoT Ms. Roong Mallikamas stated that the 2.9% growth in Thailand’s economy that had been disclosed by the Office of the National Economic and Social Development Board (NESDB) was close to the predictions made by the BoT in 2013 — adding that the main factor affecting the growth this year would be the export sector.

She went on to say that the private sector would have little to contribute this year in terms of investments. In regard to the 2014 economic outlook that the NESDB reported would be focused on the overall recovery, the BoT reported that interest rates have been relatively relaxed, but could not decisively say whether they would be lowered further or be in the opposite trend.

Moreover, Ms. Roong commented on the stronger Thai baht that it was attributed to the weaker US dollar. However, she saw this as a temporary development in the overall outlook of the global economy.