Thailand lowers 2013 growth forecast to 3%

Thailand's National Economic and Social Development Board (NESDB) has cut its full-year forecast for growth to 3% from an earlier estimate in the range of 3.8-4.3%.

The agency cited falling exports, as well as weaker domestic consumption for the revision.

Richard Jerram, chief economist for the Bank of Singapore, spoke about some of the challenges facing the Thai economy.