thai economic growth slows outlook dims on yuan fall
Last Updated : GMT 16:22:18
Arab Today, arab today
Arab Today, arab today

Thai economic growth slows, outlook dims on yuan fall

Arab Today, arab today

Arab Today, arab today Thai economic growth slows, outlook dims on yuan fall

Thailand's GDP grew 2.8%
Bangkok - AFP

Thailand's economy slowed in the second quarter hit by weak domestic demand and exports, official data showed Monday, with growth expected to be hampered by China's devaluation of the yuan.

Gross domestic product grew 2.8 percent compared to a year earlier between April and June, in-line with a forecast from analysts polled by Bloomberg News but down from three percent in the previous quarter.

Growth also faces "major constraints" for the rest of 2015 after China's devaluation of its currency will likely increase competition for Thai exports, the National Economic and Social Development Board said.

China's central bank shocked world financial markets last week when it devalued the yuan, sparking fears of a currency war in Asia in which countries vie to keep their exports competitive.

In response, Thailand's planning agency trimmed its growth forecast to 2.7-3.2 percent for the year, down from 3.0-4.0 percent.

Prime Minister Prayut Chan-O-Cha, the former army chief who led last year's coup, has staked the junta's legitimacy on pepping up Thailand's once dynamic economy.

But 15 months after his power grab there have been few signs of economic revival, despite a pledge to increase government spending and push through much-needed infrastructure projects.

Quarter-on-quarter growth remained sluggish between April and June at 0.4 percent, marginally up from 0.3 percent in the first three months of the year, the NESB said.

"Looking ahead, we expect growth to remain lacklustre... the main support for growth will likely come from government spending and the tourism sector," Capital Economics said in a note.

High household debt and a recent drought are likely to further dent consumption in a nation where 30-40 percent of the population is employed in agriculture, the research house added.

Weak growth has dogged the Thai junta's narrative that its takeover was a necessary evil to keep the peace and bolster the economy in the face of prolonged political turmoil.

The kingdom grew at 0.7 percent in 2014, the slowest pace for three years, amid mass street protests against the former civilian government.

The junta says it will hand back power to a civilian government after a new constitution aimed at healing Thailand's bitter divides and expunging corruption is enacted.

Critics accuse the junta of holding onto power and seeking to create a tightly-controlled political system that serves the interests of its royalist supporters rather than the popular will.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

thai economic growth slows outlook dims on yuan fall thai economic growth slows outlook dims on yuan fall

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

thai economic growth slows outlook dims on yuan fall thai economic growth slows outlook dims on yuan fall

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday