Govt mega projects risk delay due to political deadlock


BANGKOK, 13 December 2013 The private sector has evaluated estimated impacts of the political situation on the government’s mega investment projects and foresees a lower GDP growth rate in 2014. 

Asia Plus Securities President Kongkiat Opaswongkarn said the political standoff which resulted in delayed budget disbursement and implementation of the mega projects, would also delay investment in the private sector. With such a prospect aggravated by capital outflows due to the global economic recovery, the Thai economy next year might expand only by 3-4%, the executive said.

As for the global economy, Mr Kongkiat said it had a tendency to grow well following the recovering US economy and better EU economy. These factors would help move the overall global economy upwards despite a slowdown in China.