Thai GDP may grow less than 1% in 2014: finance minister
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[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
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