Business
Political crisis may reduce GDP growth by 2-3% in Thailand
Thailand’s current political turmoil will reduce the gross domestic product (GDP) growth by 2-3 per cent if it continues escalating, according to a top banker.
Kasikornbank executive vice president Chatichai Payuhanavichai said that the GDP growth will drop by around 1 per cent if the tension eases.
Given this scenario, he sees GDP this year expanding in a range of 3.5-6 per cent.
M. Chatichai voiced optimism that the ongoing political standoff should begin easing now that the United Front for Democracy Against Dictatorship (UDD) protesters agreeing to retreat from the Sala Daeng intersection and Silom Road, to ease the confrontation with a group of Multi-Coloured demonstrators gathering to resist the occupation of the capital’s bustling area by the UDD protesters.
via Persistent political turmoil reducing GDP growth by 2-3%, says banker.
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On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.
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