Gross domestic product growth for 2013 would be slightly above 3% due to a slowdown in the export sector and in consumption this year, Payungsak Chartsuthipol, chairman of the Federation of Thai Industries (FTI), said on Friday.
The FTI chief said economic expansion in 2013 would not be as high as the 3.7% projected by several agencies because of the impact of the flooding in many provinces, a slowdown in domestic consumption and expected export growth of only one percent this year.
He said FTI projected the economy and exports would perform better next year, about 5% growth in each, on the back of global economic recovery and an improvement in prices of agricultural products.
Keep up-to-date with the latest on coup d'etat with Bangkok Post SMS News. Call *451391000 to subscribe – 39 baht/month (7 days free, available in Thailand only) Bangkok Post SMS News: Deliver only trustworthy news on SMS
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.