Political instability, if prolonged, will cause Thailand 's GDP to drop to under 3 percent, says a Bangkok Bank executive vice president.
According to Kobsak Pootrakool, an executive vice president of Bangkok Bank, the current political unrest has started to drag down the nation’s economy - with local consumption becoming negative and exports growth being 0 percent.
With 16-17 countries issuing warnings against traveling to the country, the tourism, transportation and financial sectors would soon start to feel the impact, added Kobsak.
Meanwhile, the Thai stock market has become more attractive to investors, as the SET index has so far lost approximately 300 points; down to 1,350 from 1,650 points thanks to the ongoing political rift.
However, foreign investors are still wary of the current political situation. Coupled with the United State ’s QE easing measure announcements, the political divide has resulted in enormous foreign investment outflows.-VNA
According to Kobsak Pootrakool, an executive vice president of Bangkok Bank, the current political unrest has started to drag down the nation’s economy - with local consumption becoming negative and exports growth being 0 percent.
With 16-17 countries issuing warnings against traveling to the country, the tourism, transportation and financial sectors would soon start to feel the impact, added Kobsak.
Meanwhile, the Thai stock market has become more attractive to investors, as the SET index has so far lost approximately 300 points; down to 1,350 from 1,650 points thanks to the ongoing political rift.
However, foreign investors are still wary of the current political situation. Coupled with the United State ’s QE easing measure announcements, the political divide has resulted in enormous foreign investment outflows.-VNA
