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Thailand risks losing its competitive edge, warns Finance Ministry

Political analysts expect political stability to deteriorate further after anti-government protestors announced plans to stage a million-strong rally in Bangkok on March 14 to pressure the Abhisit Vejjajiva government to dissolve parliament.

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Thailand could lose its regional economic competitiveness due to domestic political instability and the lack of policies to improve its long-term economic fundamental, leading economists say.

Ekniti Nitithanprapas, director of the Finance Ministry’s macroeconomic policy planning section, said the country has been slow to invest in large projects that would enhance long-term competitiveness.

Public investment has been subdued since the 1997 economic crisis, he said.

Political analysts expect political stability to deteriorate further after anti-government protestors announced plans to stage a million-strong rally in Bangkok on March 14 to pressure the Abhisit Vejjajiva government to dissolve parliament.

“Investors now have many more choices,” Dr Ekniti told the Bangkok Post. “What draws investors to Thailand is old infrastructure that was built 30 years ago – the Eastern Seaboard. Now it is beginning to reach capacity and environmental problems have grown.”

via Thailand risks losing its competitive edge, economists warn.

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World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

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BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

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