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Politics to pressure growth this year: NESAC

Tanit Sorat

Tanit Sorat

Prolonged political conflicts would put pressure on the Thai economic growth this year, according to the National Economic and Social Advisory Council.

The council’s working committee on macro-economy forecasts 3.5-4 per cent economic growth for 2014.

Tanit Sorat, vice chairman of the working committee, said that even if the election takes place on February 2 as planned, the new government should be formed late March or early April. The political vocuum would then remain throughout the first quarter.

He noted that if there is no election at all, the conflicts would continue amid persisting legal questions. In this case, a new election would be called and the new government should be formed late second quarter. This would pose a greater risk to the Thai economy, he said.


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