Pattaya Daily News

10 December 2008 :: 10:12:29 am 39686

Thai Economy Expected to Take Heaviest Losses in Q1 Next Year

BANGKOK, Dec 10 The Thai economy in the first quarter of next year is likely to experience its heaviest going in many years by experiencing negative growth of around 0.5 per cent, according to a leading academic.
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Anusorn Thammajai, dean of Rangsit University’s economics faculty, predicted that the number of jobless people would surge to 900,000-1.2 million in the wake of the current sluggish economy.

However, he believed the economy would manage to grow 2-3 per cent for the whole of 2009 since its fundamentals remain strong and Thailand is not a center of the current financial crisis.

Unless the political crisis further deteriorates, he said, the economy is likely to pick up in the fourth quarter of next year.

In the worst-case scenario where the global economy grows less than 1.7 per cent, Mr. Anusorn projected that Thailand’s exports would stay flat, consumption would grow only 2 per cent, private investment would expand 3 per cent, and tourism-based revenue would experience a negative growth.

In this circumstance, he suggested, that the new government should be accepted by all segments of society, have a compromising attitude, and attempt to reduce the conflicts among people.

The new prime minister must be a member of parliament in order to maintain the democratic principle, and should not behave in a way that fuels protests by drawing others into conflict. (TNA)

Reporter : PDN staff   Photo : Internet   Category : Thailand News

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