Finance Ministry warns of budget delay as growth target cut | Bangkok Post: Most recent

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Finance Ministry warns of budget delay

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The Ministry of Finance cut its forecast for economic growth for the third time in as many months and said the failure to form a new government may delay approval of the budget until the second quarter of 2015. 

The economy may expand 2.6% in 2014, compared with an earlier target of 3.1%, assuming that a new government is in place in the third quarter, said Somchai Sujjapongse, head of the ministry’s Fiscal Policy Office (FPO).

"If it is delayed more than that, the figures will be changed," Mr Somchai said at a media briefing in Bangkok on Thursday. "There is high uncertainty on political front."

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