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IMF cuts Thailand's economic growth forecast to 2.9 percent

Christian Fernsby |
The International Monetary Fund (IMF) released a report in Bangkok, revising down its economic growth forecast for Thailand this year to 2.9 percent.

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Topics: IMF    THAILAND   

Jonathan D. Ostry, deputy director of the IMF's Asia-Pacific department, factored Thailand's slow economic growth rate to external and domestic factors.

The IMF had previously in April predicted Thailand's economy to grow 3.5 percent this year. On Friday, it announced a revised version of the Thai economic forecast.

The IMF recommended that Thailand should continue to implement further monetary easing to cope with the current situation.

In August, the Bank of Thailand slashed its policy interest rate by 25 basis points to 1.5 percent in August, the first cut in more than four years, to boost Thailand's lethargic economic conditions.

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