The Bank of Thailand (BoT) is preparing to adjust the 2013 GDP growth figure following a drop in domestic consumption and investment, and the Chinese economic slowdown.

According to BoT Governor Prasarn Trairatvorakul, the bank will, next month, lower its projection of Thailand’s GDP growth due to the decrease in three economic factors which include domestic consumption and investment, and the economic downturn of the world’s economic leader China. According to the governor, the figure will be adjusted down from the bank’s earlier anticipation of 5.1 percent growth.

Prasarn stated that despite the higher-than-expected GDP growth in the last quarter of 2012, Thailand, in the first three months of this year, saw only a 5.3 percent GDP growth which is lower than that of the same months in 2012, and 2.2 percent lower quarter-on-quarter.

The governor further disclosed that the next Monetary Policy Committee meeting will be held on July 10 while the result of the GDP adjustment will be announced on July 19.-VNA