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Thailand's Center for Economic and Business Forecasting has revised its forecast for GDP growth this year to 7 to 8 percent.
In the first half of this year, the Thai economy has shown an impressive upturn. The center says the revised forecast is based on expectations the Thai economy will continue to grow in the second half of the year at 4-5 percent. Attributable factors included strong growth in exports, an improved political situation and the implementation of government stimulus packages.
In the fourth quarter, domestic factors will have more weight in the country's growth with the rebound of the tourism industry and investment in particular.