Illustrative photo (Photo: inquirer.net) Bangkok (VNA) – Thailand expects an economic growth rate of 2.2-3.2% in 2014, lower than the 2.7%-3.7% projection that the National Social and Economic Development Council (NESDC) made last November.
At a press conference on February 19, the NESDC announced that the country' s gross domestic product (GDP) grew only 1.9% in 2023.
NESDC Secretary-General Danucha Pichayanan told the press conference that fourth quarter GDP was up 1.7% versus a 2.5% expansion forecast made previously by observers.
The growth in the fourth quarter of 2023 was driven by a 3.4% increase in exports and a 7.4% increase in private investment, but a 3% decrease in government spending.
Therefore, the economic growth for the whole year 2023 reached only 1.9%, down from 2.5% in 2022./.
