BANGKOK, Nov 4 – Thailand’s gross domestic product (GDP) will expand less than 3.5 per cent this year if the political problems are prolonged, according to a university academic.
Anusorn Tamajai, Rangsit University’s deputy rector for research and academic service, said the passage of the Amnesty Bill has negatively impacted the people’e confidence in good governance, rule of law and the nation’s economy and investment.
The impact towards Thailand’s economy will be mild if protests end quickly but it will affect the country’s competitiveness and reduce investors’ faith in the rule of law in the long term, he said.
The economy may suffer a deficit in the fourth quarter which will affect tourism and investment, said Mr Anusorn, adding that this year’s GDP growth may fall even lower than an earlier forecast of 3.8 to 3.5 per cent.
