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Three sectors set to take heavier losses from crisis next year
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Three sectors set to take heavier losses from crisis next year
Bangkok - Three business sectors are expected to take a heavier toll
from the global economic crisis next year, according to a top securities
executive.
 Included
are the agricultural, small- and medium-size enterprises, and export
sectors.
Speaking at a seminar on the “Global Financial Crisis - Thailand Stability
Crisis,” Supavud Saichua, president of Phatra Securities Co, said the Thai
economy would grow only 3.3 percent next year since the export sector growth
would drop from 19 percent to 7 percent.
It would result in a decrease in revenue earned from exports to only Bt800
billion.
However, he said, declining oil prices would help boost consumer purchasing
power by Bt400-500 billion.
It would help stimulate the economy indirectly and turn the trade balance
into a surplus again.
Dr. Supavud stated that prices of agricultural products, particularly rice,
had dropped from US$1,000 per tonne to $600 per tonne.
The SME business sector would experience problems with debt repayment and a
shortage of liquidity.
As for the export sector, some manufacturing plants would be shut down,
making many workers jobless.
In addition, he said, more trade barriers will be imposed, particularly by
the United States, because that country wants to reduce imports to help ease
its trade balance disparity. (TNA)
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