FPO lowers growth target to 4.5% | Bangkok Post: business

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FPO lowers growth target to 4.5%

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The Fiscal Policy Office (FPO) has lowered its economic growth projection for 2013 to 4.5%, with a growth range of 4% to 5%, from a previous forecast of 4.8%, FPO director general Somchai Sajjapongse said on Thursday. 

The gross domestic product (GDP) growth target for the year was adjusted on the back of the slower than expected economic recovery of Thailand’s major trading partners and declining domestic consumption and private investment, he said.

Mr Somchai said he expected that GDP growth for the second quarter of the year would stand at about 4%, and more than 4% in the third and fourth quarters, enabling the economy to grow about 4-5% as projected.

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