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Economic Research
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30 June 2014
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Thailand
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Economic
Highlights
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Thailand’s
economic growth contracted by 0.6% y-o-y in 1Q 2014, amid heightened
political uncertainty. Since then, a coup launched by the Thai military on 22
May should at least stabilise the overall political situation and
contain its adverse impact on the economy. The government is set to unveil an
economic roadmap outlining several urgent measures including making delayed
state payments to rice farmers, rolling over tax cuts, accelerating budget
disbursements for FY2014 and looking to fast-track infrastructure projects
for budget FY2015. Although the junta’s economic roadmap will likely provide
a boost to economic activities, we think it may have come in too late to lift
the full-year GDP for 2014, in which we retained our forecast at 1.2%, slower
than the +2.9% registered last year.
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Monday, June 30, 2014
RHB | Economic Highlights (Thailand) – Stabilisation In The Political Climate And A Functioning Government To Provide Impetus To Growth Going Forward
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