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Thai central bank may reduce GDP projection due to flooding

1 min read
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Breaking News. Image: GoodManPL (Pixabay).

BANGKOK, Nov 23 – The Bank of Thailand (BoT) is likely to cut this year’s economic growth projection significantly in its Monetary Policy Committee meeting Nov 30, considering the impacts from flooding, according to BoT Governor Prasarn Trairatvorakul.

The bank’s previous 2011 GDP growth forecast on Oct 19 was 2.6 per cent.

Recovery may be sooner than expected as some industrial estates have already started to drain water out and the flood impact on Thai economy may last only until the end of the year.

Read more: MCOT

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