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Bangkok Post, Thailand, Business Briefs Column.
Jul. 7--BANGKOK BANK LIFTS NATIONAL GROWTH FORECAST: Bangkok Bank has raised its economic growth forecast for the country to 4.5 percent for 2003, according to Bunluasak Pussarungsri, vice-president and deputy research manager.
The bank had previously set a target of 3 percent to 5 percent, slightly below the 4.5 percent to 5.5 percent maintained by the government.
Dr Bunluasak said that even while tourism revenues were expected to pick up starting in the third quarter as Sars fears eased, Bangkok Bank expected second-half growth to stand at just 4 percent, well below growth in the first half.
According to the National Economic and Social Development Board, first-quarter growth stood at 5.7 percent. Most analysts expect overall growth for the first half to stand at around 5 percent.
Dr Bunluasak said Bangkok Bank expected first half-growth of around 5.3 percent, with second-quarter growth at around 3.7 percent, down from the first quarter due mostly to Sars.
But overall, the bank expects growth to slow in the second half as exports were unlikely to maintain their strong performance from the past few months.
Dr Bunluasak said export value, which grew at a torrid 19.6 percent year-on-year in the first five months, was expected to slow in the second half.
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