BANGKOK, 06 October 2015 – Kasikorn Research Center has forecast gross domestic product (GDP) to expand 2.8% this year, but slashed exports to minus 5%.
Pimonwan Mahujchariyawong, Deputy Managing Director of Kasikorn Research Center, revealed that it forecast GDP growth at 2.8% this year and 3% in 2016. She explained that in the third quarter of 2015, the government’s stimulus measures and tourism growth buoyed poor performance by the export sector.
The Center forecasts export growth at minus 5%, revising down its previous projection of minus 1.7%. It cited sluggish growth by China, a major trade partner.
The fourth quarter of 2015 has mainly external risk factors, due to market volatility from the US Federal Reserve’s decision not to hike its benchmark interest rates.