Poll: Confidence in government falls with slowing economy growth in Thailand

Thai public confidence in the government of Thailand has slipped to its lowest point in three months due to the slowing economic growth, according to a nationwide poll.

The Suan Dusit Poll, conducted over 5,771 people at end of June, showed that overall faith in the economy fell by 10 points, from 100.13 in May to 89.87 in June.

On the cost of living, including salaries and welfare, the confidence score fell by 8.5 points, from 95.03 to 86.55, while that of the public's sense of well being was down by approximately seven points, from 99.07 to 91.82.

"The survey results confirm the state of the economy . . . that it is languishing," the newspaper Nation on Saturday quoted the polling body director Sukhum Chalo-eysup as saying.

Respondents also showed lower confidence in the government's competence to control the rising cost of goods and services. The score fell by 4 points, from 83.04 to 76.28.

Thailand's economy has showed signs of slowing down under the pressure of higher oil prices and long drought affecting the country's most parts.

Bank of Thailand on Thursday reported the kingdom's trade had suffered continuous deficit until May, with trade deficit for the year to date totaling 6.6 billion dollars and the current account deficit piling up at 4.7 billion dollars.

The National Economic and Social Development Board and the Bank of Thailand both have cut down their projections for this year's economic growth by 1 percentage point to 4.5 - 5.5 percent.

Meanwhile, the country's largest consumer goods conglomerate Saha group said it could no longer absorb rising costs and would raise consumer goods price to release the burden of expensive fuel and raw materials.

Source: Xinhua