KResearch predicts slow growth for Thai economy in 2013

BANGKOK, February 19 (TNA) - Kasikorn Research Center (KResearch) has revised down its economic growth forecast for Thailand as the baht appreciation is expected to slow the country’s export recovery. KResearch said Tuesday that the Thai economy was expected to grow in the range of 4.3-5.3 percent on average this year. Earlier, the research house had predicted the economy to grow in the range of 4.5-5.5 percent. However, KResearch said export would remain the major forces that support the national economy, so as spending in the government sector and investment projects. KResearch also warned that further baht appreciation would cause further delay in the country’s export sector. It estimated that every one percent of baht appreciation would reduce the country’s gross domestic product (GDP) by 0.1-0.3 percent. (TNA)