Thailand's economy will grow 5.3 percent in 2013, faster than the previous projection of 5 percent, Somchai Sajjapong, Fiscal Policy Office chief reportedly said Friday.
Sajjapong said the latest upgrade is based on the expectations that domestic spending will improve further. The central bank forecast just 4.9 percent growth for 2013.
In the fourth quarter of 2012, gross domestic product expanded at a stronger pace of 18.9 percent as manufacturers resumed their normal production capacity following a severe flood in 2011.
For comments and feedback: editorial@rttnews.com