CIMB Thai Bank expects recession in first half of 2014

Breaking News February 28, 2014 00:00

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Thailand is expected to experience the economic recession in within the first half of this year, due to the lack of growth engine, according to Amonthep Chawla, vice president and head of economic and financial-market research at CIMB Thai Bank.

The bank has forecast that the Thai economy will decline 1.6 per cent in the first quarter and 0.3 per cent in the second quarter. The economy will pick up in the second half, if the successful formation of the new government is made in the third quarter.

The bank has revised down its projection of the country's economic growth this year to 2.4 per cent from from 3.4 per cent forecast earlier in last September.

The Nation

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