Economic limited to 2% due to prolonged political situations

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BANGKOK, March 3 – Thailand’s Kasikorn Research Center says that if the current political confusion continues through June, the country’s economy might grow only by 2 per cent.

Kasikorn deputy managing director Pimonwan Mahatchariyawong said the Thai economy at present is still at risk from the political stalemate which may be prolonged and thus slow down consumption and investment.

She said the economy was predicted to grow at 0.3-1.2 per cent in the first half of the year and at 3 per cent for the entire 2014, while March and April are to be monitored, for there may be some major situations that could impact the economic situation.

Exports this year are forecast to grow 5 per cent, thanks to the improved world economy, while import was predicted to expand 2 per cent as a result of the country’s economic slowdown.

Ms Pimonwan said Kasikorn Research Center might readjust its forecast should there be no sign of setting up a new government within April, the Thai export situation has not returned to a positive figure in Q1, and the country’s drought is so severe it affects the production capacity in some industrial areas.