Thai economy likely to grow less than 4 percent

The economy of Thailand is expected to grow no more than 4 percent if current political uncertainties drag on, according to the Thai Chamber of Commerce ( TCC).

TCC's Deputy Secretary-General Pornsilp Patcharintanakul said on Thursday that he had discussed the current political situation with top executives of private enterprises, particularly the deliberation of the proposed dissolution of five political parties by the Constitutional Court.

They shared a common view that the court should try to finish the deliberation within a half month. If the court spends too much time on this case, they worried it could undermine confidence of both local and overseas investors.

Since the overall investment plans of government remain unclear, Pornsilp noted, few private companies will take the risk of investing in new projects. TCC estimated that economy this year would grow no more than 4 percent, lower than the initial projection of 6 percent.

What the economy could count on to expand for now is exports, he said. TCC predicted the growth rate of exports at 14 percent.

Source: Xinhua