Thai GDP may grow less than 1% in 2014: finance minister
[BANGKOK] Thailand's economy may expand by less than one per cent in 2014 due to weak exports and slow government spending, Finance Minister Sommai Phasee said on Thursday.
"This year's growth may not be one per cent," Mr Sommai said.
"Exports are slow and may even contract. Disbursement is still very slow."
The government of Southeast Asia's second-largest economy has already trimmed its outlook four times this year as the country struggles to recover from months of political turmoil that slowed tourism and hurt consumer confidence.
Just over a year ago, the government forecast growth of 4.0-5.0 per cent for 2014.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China says Hamas and Fatah express will for reconciliation
US consumer confidence at lowest level since 2022
Record gold prices boost recycling: WGC
Malaysian fast food operator QSR shelves IPO plans amid boycott campaign: sources
WHO warns of bird flu risk spreading to cows outside US
Sri Lanka’s key inflation rate rises to 1.5% in April