Thailand ‘s gross
domestic product (GDP) growth is projected to reach 1.4 percent compared
to the earlier forecast of 2 percent due to slow export recovery,
according to the Fiscal Policy Office (FPO) of this country.
FPO Director General Kritsada Jinavijarana was quoted by Thai media as
saying that projections for GDP growth in 2014 will range between 1.2
percent and 1.7 percent, down from the earlier predicted range of 1.5
percent and 2.5 percent.
The prediction is in line with the Bank of Thailand, which expected the economy to grow only 1.5 percent this year.
FPO also anticipated an economic growth of 2.9 percent in the second
half of the year thanks to a more stable political environment and the
implementation of economic stimulus measures during the last quarter of
this year.
The office remained optimistic about next year’s
growth with a projection of 4.1 percent, with the range of 3.6 percent
and 4.6 percent, thanks to the government’s investment in infrastructure
and increasing tourist arrivals.
The Thai export in
2014 is expected to fall by 0.4 percent after reaching a value of 170
billion THB in the first nine months, a decrease of 0.85 percent from
the same period last year, Thai National Shippers Council said.
However, the council also predicted that the country’s export will grow by 2.5 percent next year.-VNA