The Asian Development Bank (ADB) has further cut its projection for the Thai economy for 2009, from a contraction of 2% to 3.2%, ADB country director for Thailand, Jean-Pierre Verbiest, said on Tuesday. Mr Verbiest said the economic growth projection’s revision was based on the impact of global recession and the current political uncertainty, which had hurt confidence of the business sector and diminished the domestic consumption. (Bangkok Post)
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