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FPO lowers economic forecast

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The Fiscal Policy Office (FPO) has its trimmed economic growth projection for this year, from 4.5% down to 4%, citing a slump in exports and a slowdown in domestic consumption and private investment. 

FPO deputy director Ekniti Nitithanprapas said on Monday that the economy banked on the third and fourth quarters to grow at least 4.4% and keep its 4% forecast intact.

The country’s economy grew 5.3% in the first three months, in line with the FPO's projection, but the second quarter is epected to fall below its 4% forecast.

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