Thai economy likely to grow below 1 percent in 2014
Thailand's fourth quarter economic growth is forecast to be within a range of 2.5 and 3 percent, resulting in the full year figure of less than 1 percent, according to a Thai newspaper.
Thailand's fourth quarter economic growth is forecast to be within arange of 2.5 and 3 percent, resulting in the full year figure of lessthan 1 percent, according to a Thai newspaper.
TheThai economy contracted by 0.5 percent year on year in the three monthsthrough March before bounding back to rise by 0.4 percent and 0.6percent in the second and third quarters, respectively, Bangkok Postsaid.
The slow pickup of the economy due to many obstacles fromthe political to social factors has compelled policymakers andthink-tanks to cut the country's Gross Domestic Product (GDP) forecastsrepeatedly.
The National Economic and Social DevelopmentBoard last month slashed its growth forecast for Thailand in 2014to 1 percent from a range of 1.5 percent to 2 percent previously. Thecentral bank earlier trimmed its full year economic growth projection to1.5 percent and a further cut is likely on the cards.
PhatraSecurities Managing Director Supavud Saicheua predicted a GDP growth of0.8 percent this year before a recovery to 3.7 percent next year.-VNA
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