Thailand's Fiscal Policy Office (FPO), Ministry of Finance, is predicting around 5% growth in 2013. The FPO's Thailand’s Economic Outlook Projection 2012 and 2013 states that the Thai economy rebounded faster from the floods in 2011 than expected and will have a growth rate of 5.3% to 5.8% for 2012. For the year 2013, the FPO's predicts "growth at a rate of 5.2% (within a range of 4.7% to 5.7"). The Bangkok Post likewise reports that the FPO is predicting 5% growth in 2013. The FPO attributes this growth rate to, among other things, a better than expected recovery from the 2011 floods in the 2012 and "supportive factors", such as investment in a major water management plan (i.e., infrastructure development generally). The FPO also expects a gradual improvement in the world economy, although its optimism about such a recovery is guarded.