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Thailand’s GDP growth may not reach 3 percent

Political instability, if prolonged, will cause Thailand 's GDP to drop to under 3 percent, says a Bangkok Bank executive vice president.
Political instability, if prolonged, will cause Thailand 's GDP todrop to under 3 percent, says a Bangkok Bank executive vice president.

According to Kobsak Pootrakool, an executive vicepresident of Bangkok Bank, the current political unrest has started todrag down the nation’s economy - with local consumption becomingnegative and exports growth being 0 percent.

With16-17 countries issuing warnings against traveling to the country, thetourism, transportation and financial sectors would soon start to feelthe impact, added Kobsak.

Meanwhile, the Thai stockmarket has become more attractive to investors, as the SET index has sofar lost approximately 300 points; down to 1,350 from 1,650 pointsthanks to the ongoing political rift.

However, foreign investorsare still wary of the current political situation. Coupled with theUnited State ’s QE easing measure announcements, the political dividehas resulted in enormous foreign investment outflows.-VNA

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