The country’s gross domestic product growth for 2014 is expected to stay below 3%, down from a previous forecast of 4-5%, the Office of the National Economic and Social Development Board (NESDB) said on Wednesday.
NESDB secretary general Arkhom Termpittayapaisith attributed the lower than expected growth to delays in investment in the government's 350 billion baht water management and 2-trillion-baht infrastructure development projects.
Around 150 to 160 billion baht in seed money from the projects had been expected to flow into the economy, but the future of the schemes is now in doubt, since the court is considering ruling on the constitutionality of the spending plans, he said.
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