Posted on 03 Sep 2014
Bank of Thailand Assistant Governor Mathee Supapongse hinted that the Monetary Policy Committee may revise down the export growth target for this year.
Though, he said that the downward revision should not affect the economic growth forecast, which is now 1.5 per cent.
Mathee noted that though the exports may not expand as much as expected, other economic engines should help support the economy.
"The export target may not be cut sharply, as the current projection is not high. As exports slide, imports also drop. This should limit negative impacts on the economy," he said.
In the first seven months of this year, Thailand’s exports show 0.2 per cent contraction from the same period last year. Economic outlook in major trading partners like the United States, Europe and Japan will determine the situation in the remaining months of the year.
