BANGKOK, July 4 – More than half the Thai business leaders polled doubt that Thailand’s growth this year will be higher than 4.5 per cent, a survey by the Thai Listed Companies Association (TLCA) revealed today.
TLCA president Surong Bulakul said the latest CEO Survey Economic Outlook for the second half of this year found 57 per cent of Thai CEOs limiting the Thai economic growth this year to less than 4.5 per cent while only one-fourth of the surveyed participants expressed optimism that the growth will be higher at 4.5-5 per cent.
The results were less than the previous survey when most CEOs believed the GDP growth would be higher than 4.5 per cent.
The three top concerns among business executives are global economic slowdown, Thailand’s political stability and the government’s economic policy.
Global economy has an impact on Thailand and businessmen gave the highest emphasis, at 50 per cent, to the European economic crisis, 28 per cent to China’s less active economy and 22 per cent to the US financial slump.
Political risks including the government’s policy are among the top three concerns raised by businessmen who look forward to the government’s transparent action especially on the rice pledging scheme and public debt, he said.
Transparency leads to investors’ confidence, he added.
Volatile baht, people’s declining purchasing power and high labour cost remain risks for internal investment.
Chao Kengchon, managing director of Kasikorn Thai Research Centre, said vulnerable global economy especially unclear economic revival in Europe, China and the US will be risk factors for Thailand in the second half of this year.
The research centre has adjusted Thailand’s GDP growth in 2013 from 4.8 per cent to 4 per cent and export target from 7 per cent to 4 per cent.
