Vegetarian Fest expected to add 41 billion in money circulation

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BANGKOK, 8 October 2015– The 2015 Vegetarian Festival in Thailand is expected to generate a money circulation of up to 41 billion baht, which is lower than anticipated, according to the University of Thai Chamber of Commerce (UTCC). 

The UTCC Center for Economic and Business Forecasting (CEBF) Director Thanawat Polwichai announced the center’s economic activity forecast for this year’s vegetarian festival. It is expected that this year’s expenditures will be close to last year’s figures.

He expects money circulation during this festival to reach 41.012 billion baht, which is 2.9 percent more than last year, as the general public will spending less on their merit making ceremonies, due to their reluctance on spending. This was partly brought on as foods price is expected to increase during the vegetarian festival.

The reflects the sluggish economic expansion of Thailand this year, and its dependence on the disbursement from government projects.

The CEBF Director has added that the public are urging the government to help regulate the price of groceries during the festival to remain at the proper price range, while promoting vegetarian practices and the observation of precepts. Furthermore, there needs to be food quality inspections and free vegetarian food for persons in need.