Prime Minister Prayut worried by economic slowdown

[thailiketoo]

I'm CONFUSED. World bank pro. thailand's growth for 2014 at around 1.5% (www.worldbank.org).

Contrary to TH 4 -4.5% ? Who is right ?

The World Bank also cut its forecasts for Thailand’s growth this year to 1.5 percent from an earlier estimate of 3 percent. The country’s junta, which seized power about four months ago in a coup, has said it will stop buying farm products directly from growers as state purchases spur overproduction, distort the market and create stockpiles. The world’s growth is forecast to be 2.6 percent growth in 2014, and an average of 3.3 percent from 2015 to 2017, it said.

http://www.bloomberg.com/news/2014-10-06/world-bank-cuts-developing-east-asia-2015-gdp-forecast.html

The one bright spot has been foreign direct investment: applications approved surged to 64 billion baht in August compared to the 10 billion baht monthly average in the period from January to May, as the new military government cleared the backlog, according to the Board of Investment.

The revival of investment has spurred gains in stocks, with the benchmark SET index climbing about 19 percent this year. Foreigners were net buyers of $657.1 million of Thai stocks last month, a third straight month of buying and the highest since Dec. 2012. The baht is one of three gainers this year among 11 Asian currencies tracked by Bloomberg.

http://www.bloomberg.com/news/2014-10-08/thai-stimulus-seen-insufficient-to-aid-growth-this-year-economy.html

Edited October 28, 2014 by thailiketoo