Tourists at Thailand's night market in Hua Hin (Source: VNA)

Bangkok (VNA) – The Bank of Thailand (BOT) on July 5 raised its economic growth forecast for this year to 3.5 percent from 3.4 percent.

The central bank also upgraded its estimate for exports, which is expected to rise 5.0 percent this year, rather than the 2.2 percent projected three months ago.

Export, the country’s traditional growth driver, was flat in 2016 and contracted the three previous years, according to central bank data.

The BOT predicts headline inflation at 0.8 percent this year, compared with 1.2 percent forecast earlier.

The National Economic and Social Development Board in May forecast the 2017 economic growth of 3.3-3.8 percent, with exports rising 3.6 percent.

Last year, Thailand saw the growth of 3.2 percent, less than achieved by regional nations.-VNA