BOT expects Thai economy to recover in Q2

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BANGKOK, 1 April 2014 – The Central Bank says the Thai economy should bounce back in the second quarter when the new government can be finalized. 

Mathee Supapongse, the Senior Director of the BOT’s Macroeconomic and Monetary Policy Office, reported that the country’s economy and financial status saw a continuous shrinkage in the month of February due to lower household and business spending, resulting in a negative 2.5 percent in private consumption, a negative 7.7 percent in investments of the private sector, and as high as a negative 18.9 percent in the country’s imports.

Compared to the fourth quarter of 2013, economic growth in the first quarter of 2014 should see a decline, said Mr. Mathee. He went on to say that the BOT expected a recovery in the second quarter of this year if a new government can be formed, so that mega projects could be pushed forward in order to boost confidence in both the investment and tourism sectors.