Thai finance minister expects GDP to grow 3.5 pct this year

May 14, 2015 4:22 AM

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BANGKOK May 14 Thailand's economy was mired in a slump, Finance Minister Sommai Phasee said on Thursday, lowering the growth forecast to 3.5 percent, from 3.7 percent earlier.

"It's not deflation but there is no money as banks refuse to lend and export earnings are small. It's an economic slump," he told reporters.

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