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Economy

Thai central bank revises down 2021 growth to 3.0%

Bank maintains policy rate but provides new $11 billion aid to business

The central bank has been striving to buttress the economy as a surge in COVID-19 cases has battered the food and tourism industry in Thailand.   © Reuters

Bangkok -- The Bank of Thailand revised down its 2021 growth forecast, as the resurgence of COVID-19 in Southeast Asia's second largest economy over the last few months had led to the closure of some businesses.

The central bank said Wednesday it now expects the economy to grow 3.0% this year instead of the 3.2% it forecast in December. The view is in line with that of the Ministry of Finance, which lowered its growth forecast from 4.5% to 2.8% in January.

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