NESDB revises Thailand’s projected economic growth in 2014

BANGKOK, April 5 (TNA) - The National Economic and Social Development Board (NESDB) has revised downward Thailand’s projected economic growth this year to 3-4 per cent, from 4-5 per cent forecast earlier, due to persistent domestic political protests. The NESDB pointed out that the prolonged political rallies have affected Thailand’s competitiveness and the government's think tank has, thus, lowered the country's projected growth in line with other agencies. The NESDB cautioned if political uncertainties continued, the national economy could contract in 2014. The NESDB’s decision to lower the country's projected economic growth was made almost at the same time the Bank of Thailand (BOT) announced that the national economic growth this year would be below 2.7 per cent if there was no new government taking office in the second half of 2014. (TNA)