While such an outcome was expected, the Board of Trade has expressed concern over the slow growth of Thai GDP of 2.5-3.0%, and the real estate business has been vocal in its fears of delayed budgets and decreased investment.
According to Kiatnakin Phatra Securities chief economist Pipat Luengnaruemitchai, an ongoing uncertain political situation poses a clear risk to the Thai economy as it will hinder new investments from both the public and private sectors.
Currently, the sole driving force of the Thai economy is tourism. However, if the situation drags on and leads to protests, it will immediately impact the overall tourism sector and pose a greater risk to the Thai economy.
CIMB Thai Bank chief economist Amonthep Chawla was more cautious, saying it was probably too early to assess the direction of the conclusion and the resulting impacts. Nevertheless, based on the ongoing…
