Business

Published: Monday February 20, 2012 MYT 11:13:00 AM

Thai agency ups 2012 GDP growth f'cast to 5.56.5


BANGKOK (Reuters) Thailand's economy is expected to expand 5.56.5 percent this year rather than the 4.55.5 percent forecast in November, after growing just 0.1 percent last year due to severe flooding, the state planning agency said on Monday.

The National Economic and Social Development Board, which compiles Thailand's GDP data, said the higher projection was due to both private and pulic spending after the flooding.

It cut its export growth forecast to 17.0 percent for this year from 19.0 percent seen in November.

This month the Bank of Thailand forecast economic growth of 4.9 percent and export growth of 7.8 percent for 2012.. Economists in a Reuters poll last week forecast economic growth of 4.2 percent for 2012

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