In late December, the Finance Ministry lowered its year-end GDP forecast, cutting its expectations for growth in 2013 from 3% to 2.8%, the downgrade coming a month after the Bank of Thailand had reduced its projection to around 3%, down from 3.7%.
A number of analysts have already factored in the potential for an extended period of political instability in their predictions for the economy in 2014, with many lowering their expectations for GDP expansion from the 4-5% range down to a bracket of 3-4%. On January 16, the Finance Ministry said it was forecasting a rise of 3% for this year, down from the 4% announced last month.
In late December, the Finance Ministry lowered its year-end GDP forecast, cutting its expectations for growth in 2013 from 3% to 2.8%, the downgrade coming a month after the Bank of Thailand had reduced its projection to around 3%, down from 3.7%.A number of analysts have already factored in the potential for an extended period of political instability in their predictions for the economy in 2014, with many lowering their expectations for GDP expansion from the 4-5% range down to a bracket of 3-4%. On January 16, the Finance Ministry said it was forecasting a rise of 3% for this year, down from the 4% announced last month.
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