Thai Chamber of Commerce expects a 1% decrease in GDP if 2 trillion baht mega project is not followed through


BANGKOK, 22 November 2013 The University of the Thai Chamber of Commerce’s Center for Economic and Business Forecasting Director, Thanawat Polwichai, revealed that should the current political rifts stretch on to next year, Thailand could see a 0.5% decrease in its GDP. 

Moreover, if the 2 trillion baht mega project is not realized next year, Mr. Thanawat stated he expected the country’s GDP to decrease an additional 0.5%. And if no projects are carried out at all, the estimated 5-year national growth could be only 4-5%, instead of 5-7%.

Mr. Thanawat also anticipated the country’s GDP this year to grow at least 3 – 3.3%. In addition, should the protests continue on to the end of next year, Thailand, he said, could expect the 2014 GDP growth of 4.5 – 5%.