FPO set to cut growth forecast | Bangkok Post: business

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FPO set to cut growth forecast

Political woes take toll on economy

  • Published: | Viewed: 2,992 | Comments: 2
  • Newspaper section: Business
  • Writer: Somruedi Banchongduang
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The Finance Ministry's Fiscal Policy Office (FPO) is set to cut this year's economic growth forecast from 4% to between 2.8% and 3.1%, depending on political developments, in a fresh sign the economy is faltering. 

Gross domestic product (GDP) growth could come in at 3.1% if the political rallies are peaceful and a new government is installed and functional, director-general Somchai Sujjaponse told a seminar on the 2014 economic outlook hosted by Land and Houses Bank yesterday.

However, expansion will lower to 2.8% to 2.9% if there are violent protests and a functional government is not installed.

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