Thailand’s economy grows slowest pace in three years in 2014
The slump in the country’s economic growth was attributed to prolonged political unrest, which dampened tourist arrivals, slowed foreign investment and hindered government spending.
For the fourth quarter, the Thai economy grew 2.3% on the year when compared to a growth rate of 0.6% in the previous quarter. Improvements in the non-agricultural sector, higher domestic and external demand as well as increased investment were cited as the main reasons behind the country’s stronger quarterly growth.
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