BANGKOK, Jan 2 – Thailand is moving towards a gloomy economy this year with predicted negative developments in domestic consumption, private investment and exports, according to Kasikorn Research Centre.
The Centre forecast Thailand’s economic growth in 2013 at 2.7 per cent, a sharp drop from 6.5 per cent in 2012 while export will plunge to its worst in four years with only 0.3 per cent increase despite a strengthened global economy in the second half of last year and contributing baht movement.
Thai economy this year will be volatile given escalating political conflicts without concrete resolutions, it said.
If the political turmoil continues until mid-year, it will impact domestic consumption particularly in spending among households, private investment and state disbursement, it said.
The Centre said the negative factors will lead to uncertainty in Thailand’s economic recovery, adding that the Thai economy will possibly grow by only 2.5 per cent this year despite export achievements.
