The revision came after the FPO cut the economic growth estimate of Thailand's 15 major trading partners from 3.49% to 3.3%. Kasikorn Research Center on Wednesday maintained its 3% economic growth forecast but said the pace of growth could be higher if budget disbursement for public expenditure meets the government's target. The FPO raised its forecast for public spending growth from 3.2% to 3.6%. The robust tourism industry and state investment will keep the Fiscal Policy Office's economic growth projection unchanged this year. The FPO's latest economic growth forecast of 3.3% is above the Bank of Thailand's projection of 3.1% but is in line with the National Economic and Social Development Board's estimated range of 3-3.5%.

Source: Bangkok Post July 28, 2016 23:48 UTC