Election campaigns may create 3.5 billion USD for Thai economy

A street in Bangkok capital of Thailand. (Photo: AP)

Bangkok (VNA) - Election campaigns are forecast to generate up to 120 billion THB (3.5 billion USD) for the economy of Thailand, said the Centre for Economic and Business Forecasting at the University of the Thai Chamber of Commerce.

The centre’s director Thanawat Polvichai said political parties are going into full gear with campaigning for votes after the election date was set for May 14 by the Election Commission.

The 120 billion THB generated while campaigning will push Thailand’s GDP up by 4% in the second quarter, he said, adding that the Thai economy is expected to grow by 3-4% this year.

However, rising production costs and inflation can affect the business sector’s profits and liquidity though the economy is believed to pick up in the second half of this year, according to Thanawat./.

VNA