Dec. 28 (Bloomberg) -- Thailand’s finance ministry expects the economy will grow 1.1 percent this year after flooding slashed production and reduced domestic demand, said Somchai Sujjapongse, head of the ministry’s fiscal policy office.
The ministry last month cut its 2011 economic growth forecast to between 1.7 percent and 2 percent, from an earlier estimate of 2.6 percent, because of the flood disaster.
The economy may grow by between 4.5 percent and 5.5 percent in 2012, with a midpoint of 5 percent, Somchai told reporters today.
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