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Academic worried over Thailand's economic growth
A well known economist expressed concern Thailand's economic growth would become stagnant in the next five to six years.
Somchai Pakapasvivat, economics lecturer at Bangkok's Thammasat University and chairman of SCIB Securities, cited uncertainty in local politics and business persons being unable to adapt themselves to rapid changes in the business environment. Thailand's economy in 2008 would remain volatile on the back of unpredictable local politics and the US sub prime crux which could impact Thailand's exports, according to Somchai. However, confidence among private sector business persons might improve while government spending would continue. The better confidence could boost the economy projected to sustain growth of between 4-5 per cent, almost the same as this year, explained Mr. Somchai. But the country's economic growth could become sluggish in the next five to six years as Thai business operators lost business competitiveness because they were unable to adapt to rapid business changes, he noted. By Somchai, Section Business Posted on Sat Dec 01, 2007 at 11:44:20 PM EST
Meanwhile Montri Sornpaisal, CEO of Kim Eng Securities (Thailand) Public Co., Ltd., predicted Thailand's economic growth in 2008 should improve and the stock market should recover as the country would have an elected government.
With high expectations consumption would improve, Mr. Montri said he believed Thailand's economic growth would expand five per cent in 2008, profits of listed firms would soar around 20 per cent and foreign business persons would continue to invest in the Thai bourse. (TNA) - E111
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