Thai economic slump to last for at least 3 more months
The University of the Thai Chamber of Commerce (UTCC) has forecast that Thai economy will remain sluggish in the next three months due to the slowdown in domestic consumption.
The University of the Thai Chamber of Commerce (UTCC) has forecast thatThai economy will remain sluggish in the next three months due to theslowdown in domestic consumption.
The National News Bureau ofThailand (NNT) quoted Director of the UTCC’s Centre for Economic andBusiness Forecasting Thanawat Polvichai as saying that that Thailandwill see a slow economic growth in the next quarter. With thecountry’s lowest domestic consumption index in 12 years, it was veryunlikely that the nation’s economic recovery will take shape any timesoon if the new government could not be formed and the rice growerstaking part in the government’s rice subsidy programme remain unpaid.
Althoughup to 116 billion THB is expected to be spent during the Thai New Yearcelebration, the figure still represents the lowest amount of cash flowrecorded in the past four years.
Moreover, it is extremelydifficult to predict or assess the future of the Thai economy as thereare still some uncontrollable risk factors, namely Crimean crisis andChina ’s lower-than-expected export growth, both of which could have animpact on Thailand ’s overall economy, said the Director./.
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