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The Ministry of Finance said Tuesday it has cut its forecast for Thailand's economic growth this year to 3.8-4.3 percent from 4.0-4.5 percent it announced in February.
Pannee Sathavarodom, director of the ministry's Fiscal Policy Office, said the reduction reflects the  weak consumer spending and private investment amid sagging consumer confidence caused by political uncertainty.
The finance ministry projects the gross domestic product growth this year to be around 4 percent.
- The Nation