FPO: 2013 GDP growth 5.3%

FPO: 2013 GDP growth 5.3%

The Fiscal Policy Office (FPO) on Friday raised its gross domestic product growth projection for 2013 to 5.3% from the previous expectation of 5%.

The office said domestic consumption was still a major driving force of the economy this year.

It also projected domestic consumption to expand by 4.6% this year, from the previous forecast of 3.9%, and private investment to grow by 9.3%, up from 9.2%.

However, the FPO lowered its export growth projection for the year to 9%, from the earlier prediction of 10.5%, due to the impact of the baht’s appreciation.

The projection for the value of the baht was also changed to 29.45 baht to the US dollar, from the previously set at 30.70 baht.

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