World Bank slashes Thai growth forecast on unrestApril 6, 2014 @ 11:16 pm
HONG KONG (AP) -- The World Bank has slashed its economic growth forecast for Thailand because of ongoing political strife that is crimping domestic demand.
In a report Monday, the Washington-based organization forecast that Thailand's economy would expand 3 percent this year, down from 4.5 percent growth it had forecast at the end of last year.
The bank also cut trimmed its 2015 growth forecast for the country to 4.5 percent, down from 5 percent.
Thailand has been gripped by more than five months of anti-government protests that the World Bank said is also affecting tourism receipts, public investment and investor confidence.
The bank's twice yearly report on developing East Asia and the Pacific predicts the region's economies will grow 7.1 percent in 2014.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Voting for Judges
Which judge will get your vote this November? Colleen O'Brien gets advice on how to decide
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.