The University of the Thai Chamber of Commerce (UTCC) has forecast that Thai economy will remain sluggish in the next three months due to the slowdown in domestic consumption.

The National News Bureau of Thailand (NNT) quoted Director of the UTCC’s Centre for Economic and Business Forecasting Thanawat Polvichai as saying that that Thailand will see a slow economic growth in the next quarter.
With the country’s lowest domestic consumption index in 12 years, it was very unlikely that the nation’s economic recovery will take shape any time soon if the new government could not be formed and the rice growers taking part in the government’s rice subsidy programme remain unpaid.

Although up to 116 billion THB is expected to be spent during the Thai New Year celebration, the figure still represents the lowest amount of cash flow recorded in the past four years.

Moreover, it is extremely difficult to predict or assess the future of the Thai economy as there are still some uncontrollable risk factors, namely Crimean crisis and China ’s lower-than-expected export growth, both of which could have an impact on Thailand ’s overall economy, said the Director./.