BANGKOK, 4 September 2014 – The Center of Economics and Business Forecasting (CEBF), under the University of the Thai Chamber of Commerce (UTCC) has revised downwards Thailand’s economic growth from a range of 2.0-2.5 percent to 1.5-2.0 percent.
Meanwhile, Thanawat Polwichai, the Director of CEBF, has revealed that the consumer confidence index has been increasing for four consecutive months, with August achieving the highest reading in the past 13 months. The export sector however has been affected by the economic slowdown of China and the ASEAN market as well as the VAT hike in Japan.
In addition, he urges the Thai government to expedite its pending disbursements valued at 100 billion baht. The economy in the fourth quarter is anticipated to expand by 5 percent due to government expenditure.