BoT maintains growth, export projection

BANGKOK, Oct 1 (TNA) -- Despite Thailand’s favourable economic growth in August, the Bank of Thailand (BoT) still maintains the country’s growth in 2016 at 3.2 per cent and export at 2.5 per cent contraction, said Roong Mallikamas, Senior Director of BoT’s Macroeconomic and Monetary Policy Department. There are positive signs that this year’s economy would improve, said Ms Roong, adding that the central bank would, however, closely monitor the country’s economy situation for a while. She said the BoT would revise Thailand’s economic projection for 2016 later. Thailand’s economy in the third quarter is not expected to fare better than the second quarter which increased quite high due to government’s policy to stimulate domestic consumption, said Ms Roong. Also, the government’s policy to financially assist poor agriculturists by giving between 1,500-3,000 baht for those earning less than 100,000 baht annually would help buoy the country’s economy and local consumption but would not push forward gross domestic product, she said. Exports by Thailand during the first eight months this year suffered contraction 1.8 per cent. Thailand’s exports during the period to Myanmar and the Indochinese markets enjoyed considerable growth but fell in the Middle East and China. (TNA)