Thai central bank lowers growth estimate
BANGKOK, Thailand – Thailand's central bank is predicting minimal economic growth for this year but not a recession.
Bank of Thailand Governor Tarisa Watanagase said the global economic downturn had caused the bank to revise its growth estimate to 0.5-2.5 percent for this year, according to a report Tuesday by the state Thai News Agency. The bank had previously forecast growth of 3.5-5 percent for 2009.
Several private sector economists have suggested the country may slip into recession this year.
Tarisa said the estimate would be reviewed at a meeting of the bank's Monetary Policy Committee meeting on January 14.
Political unrest, including a weeklong seizure of Bangkok's airports, has battered the country's vital tourism industry and hamstrung the economy.
