World Economy

Thai Growth Outlook Declines

Thai Growth Outlook DeclinesThai Growth Outlook Declines

Thailand’s central bank decided to again revise downward its economic growth projection for 2015 as the sluggish recovery continues, Nasdaq reported. The Bank of Thailand said Friday that it cut the 2015 GDP growth estimate to 2.7% from an earlier forecast of 3.0%. The bank attributed the downward revision to a sharper slowdown in China and Asia, a possible greater-than-expected decline in the number of tourists following the deadly bomb attack in Bangkok in August and lower-than-expected crowding-in effects of public investment amid weak business sentiment. The grimmer growth outlook comes despite the government’s recent introduction of new economic stimulus packages, including measures worth 136 billion baht ($3.7 billion) aimed at low-income households.