BANGKOK, March 29 (Reuters) - Thailand’s central bank on Wednesday raised its economic growth forecast for this year to 3.4 percent from 3.2 percent, and upgraded its projection for exports.
The Bank of Thailand (BOT) now expects exports to rise 2.2 percent in 2017. Three months ago, it forecast no growth.
Thai exports, a traditional growth driver, increased fractionally last year following three years of contraction, according to commerce ministry data.
The BOT predicts headline inflation at 1.2 percent this year, rather than 1.5 percent seen three months ago.
Last month, the state planning agency, the National Economic and Social Development Board, maintained its economic growth forecast of 3.0-4.0 percent for this year, but raised its export growth estimate to 2.9 percent from 2.4 percent.
Southeast Asia’s second-largest economy grew 3.2 percent in 2016. (Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Richard Borsuk)