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
