Thailand’s trade-reliant economy has been hit by slumping exports, a surging currency and cooling tourist arrivals, with a looming delay in the budget after a new government took office last month posing a further risk. FMTNews
Thailand’s trade-reliant economy has been hit by slumping exports, a surging currency and cooling tourist arrivals, with a looming delay in the budget after a new government took office last month posing a further risk.
The forecast for exports was cut to a 1.2% contraction, from previous estimates of 2.2% growth.
Gareth Leather, senior Asia economist at Capital Economics, said the expansion could slow to 2.5% this year.
GDP rose a seasonally adjusted 0.6% in the second quarter compared with the previous three months, the council said, below the 0.7% median estimate in a Bloomberg survey.
The cabinet is scheduled to meet Tuesday to discuss the government’s 316 billion baht (US$10.2 billion) stimulus proposal announced last week. Thosaporn said Monday that additional stimulus is also possible, including steps that focus on boosting private investment and tourism.Read more: Free Malaysia Today
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