Thailand’s leading private “think tank” Kasikorn Research Center or KResearch says the country’s economy is on the verge of recession, blaming the prolonged political turmoil as main reason.
The think tank center said the Thai economy during the first and second quarters of the year is showing limited growth of less than one percent, due to the ongoing political conflicts.
It said under such environment, the country’s economy might be facing a recession soon.
At the same time KResearch also reported zero growth in exports during the first quarter of 2014 which is close to that of the last quarter of the previous year, which is still seeing a minus growth of 1.8 percent.
This showed that the country is at risk of on the blink of a recession, the research center noted.
It further said that economic growth in the second quarter of the year would still rely mainly on the country’s political situation.
It revealed that Thailand would be seeing a hike of only around 0.9 percent, which is deemed lower than the standard of the country.
Developing Asia will extend its steady economic growth in 2014 as higher demand from recovering advanced economies will be dampened somewhat by moderating growth in the People’s Republic of China (PRC), says a new Asian Development Bank (ADB) report.
ADB’s flagship annual economic publication, Asian Development Outlook 2014 (ADO), released today, forecasts developing Asia will achieve gross domestic product (GDP) growth of 6.2% in 2014, and 6.4% in 2015. The region grew 6.1% in 2013.
Thailand relaxes COVID-19 measures to help revive economy
During the past couple weeks, new infection cases have been down from roughly 20,000 daily cases to 17,000 -19,000. Moreover, the number of daily discharges is exceeding infections, which has led to the conclusion that the situation is improving.
Thailand relaxed more virus related social curbs on September 1st, in dozens of cities including Bangkok, in a move that may indicate that the country’s economy, hit hard by COVID-19 will soon revive, lead by the export sector and sound financial fundamentals.(more…)
Southeast Asia to relinquish its lead over Latin America says Moody’s
While the emerging economies of Southeast Asia have outperformed their counterparts in Latin America for most of the past two decades, their lead will slide in the next few quarters as Southeast Asian governments clamp down to fight the pandemic’s lingering second and third waves.
The Delta surge is casting larger clouds over the global recovery and emerging markets are in the thick of it. Despite the ebbing of the coronavirus variant in India, where it first emerged, its spread in Southeast Asia, Africa, and the Middle East has steepened the road to recovery in these regions.(more…)
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