UTCC cuts 2013-14 growth forecasts due to political situation
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Thailand's gross domestic product could grow by as little as 4-4.5 per cent next year, lower than the previous forecast of 5.1 per cent, with the country's political problems hitting consumption, investment and tourism, the University of the Thai Chamber
The UTCC’s Economic and Business Forecasting Centre also expects the economy will expand by only 3-4 per cent next year, again mainly as a result of the ongoing political tension. Its previous forecast for the year was 3.5 per cent.
“The political factor is the key negative factor causing a slowing down of economic growth for the country this year and next. If there is no serious turmoil from the political conflict, the economy should show signs of recovery in the second quarter next year,” said Thanavath Phonvichai, director of the centre.
The Nation
