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Thai finance ministry trims 2015 GDP growth forecast to 3.9%

[BANGKOK] Thailand's finance ministry projects economic growth at 3.9 per cent this year and just 0.7 per cent for last year, slightly lower than its previous estimates, a senior ministry official said on Thursday.

In December, the ministry forecast about 4 per cent GDP growth for 2015 and one per cent for 2014.

The ministry also cut its 2015 export growth estimate to 1.4 per cent from 3.5 per cent, Kritsada Jinavijarana, director-general of the Fiscal Policy Office, told a news conference.

The ministry predicts the policy interest rate to remain unchanged at 2 per cent this year.

The military government is struggling to revive the economy after taking power in May to end prolonged political tensions that hurt business activity at a time of already weak exports.

Official 2014 GDP data will be announced by the state planning agency on Feb 16.