BoT raises Thailand's GDP forecast

BANGKOK, Oct 12 (TNA) -- The Bank of Thailand (BoT) raised its economic growth forecast for Thailand from 3.5 to 3.8 percent this year citing expansions of the country’s tourism industry and exports. BoT Governor Veerathai Santiprabhob said Wednesday that the BoT’s Fiscal Policy Committee decided to revise up the growth forecast after the country had seen higher-than-expected exports and tourism. All indicators had been positive and conducive to economic stability, he said, adding that “no significant risks that could lead to an economic crisis. However, risks from external events needed cautious monitoring, particularly fiscal policies of major economies, the Korean Peninsula tension and the Middle East conflicts. The performance of Thai exports is improving due to global economic expansion and a shift in the mix of Thai products. (TNA)