Finance: 2013 GDP growth less than 3.7% | Bangkok Post: business

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Finance: 2013 GDP growth less than 3.7%

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Gross domestic product growth for 2013 will not reach 3.7% as earlier projected, but it will be above 3%, Somchai Sajjapongse, director general of the Fiscal Policy Office (FPO) at the Finance Ministry, said on Thursday. 

Mr Somchai attributed the lower than expected economic growth for this year to a slowdown in exports, for   the National Economic and Social Development Board's earlier forecast of zero growth for the export sector, and the ongoing political turmoil.

He expected the economy to improve in 2014 on the back of the country’s strong economic fundamentals and  the strong status of Thai financial institutions and low inflation and unemployment rates.

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