BANGKOK: Thailand’s central bank has raised its 2018 economic growth forecast for the fifth time to 4.4%, from 4.1% projected in March, following stronger than expected expansion in the first quarter.
The Bank of Thailand (BoT) now expects exports – a key growth driver – to increase 9% this year, rather than 7% seen three months earlier.
The BoT also predicts headline inflation of 1.1% this year, slightly up from the 1% earlier forecast, and compared with its 1%-4% target range.
In March 2017, the central bank’s projection for 2018 was for growth of 3.6%.
The state planning agency, the National Economic and Social Development Board, last month lifted its growth forecast to 4.2%-4.7% this year, from 3.6%-4.6%.
In 2017, South-East Asia’s second-largest economy grew 3.9%, the fastest pace in five years. — Reuters