Sunday, August 20, 2017 - 15:13:44

Thailand lowers 2014 GDP forecast for second time in a month

Print

Thailand’s finance ministry lowered its 2014 economic growth forecast for the second time in a month, while Moody’s Investors Service said political protests will weigh on its expansion.

Thailand’s gross domestic product (GDP) may grow 3.1 percent in 2014, 0.9 percent lower than previously predicted, according to the ministry.

The ministry cut its growth forecast because of delays facing infrastructure projects and other state investments worth 2 trillion THB (60.8 billion USD). Thai GDP may grow at 2 percent if the election is postponed, and about 45 billion THB worth of investment projects needs approval from the new government.

Prime Minister Yingluck Shinawatra has called for snap polls on February 2 in the wake of anti-government protests in the country.

Thailand's prolonged political protests are credit negative for the sovereign and will weigh on an already fragile growth outlook for 2014, Moody's Investors Service said in a recent report.

The baht, which touched its lowest level over the last two weeks, is little changed at 32.88 against the dollar.-VNA
Your comments about this article ...
Others