BoT to cut GDP growth

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The Bank of Thailand (BoT) will likely lower the country’s economic growth for this year on the back of the slow economic recovery, BoT’s Macroeconomic and Monetary Policy Department senior director Roong Mallikamas said last week.

Roong said the private sector continues to be cautious with their spending. At the same time, exports remains sluggish in accordance with regional trade.

However, she said, the tourism sector and public spending will continue to sustain the economy.

BoT’s Macroeconomic and Monetary Policy Department senior director Roong Mallikamas.BoT’s Macroeconomic and Monetary Policy Department senior director Roong Mallikamas.

Thai exports will not likely be the main economic stimulus as local products are not as popular in global markets, she said.

The central bank official suggested that businesses should consider investing in neighboring countries and expand their markets.

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