World Bank slashes GDP growth forecast for Thailand to 3 percent

Thailand News Breaking News

Thailand News Breaking News. Image: TN.

BANGKOK, 7 April 2014 (NNT) – The World Bank has cut Thailand’s GDP growth forecast this year from 4.5 percent to 3 percent.

The World Bank’s new economic outlook report slashed its GDP growth forecast for the East Asian and Pacific regions to 7.1 percent, including a sharp downgrade for the Thai economy following months of political turmoil.

Nonetheless, Thailand is projected to grow 3 percent this year compared with 2.9 percent in 2013. However, it will face slowing domestic demand due to a protracted political crisis.

Read more: NNT

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