Monthly Archives: April 2015

Uncertain outlook for the Thai economy

All economic engines seem to have stalled in Thailand, making them very poor economic prospects for 2015, said Mr. Thanawat Polvichai, director of Economic Centre and forecasts of the University of the Thai Chamber of Commerce.

The contraction in economic growth, falling exports and domestic consumption, falling agricultural prices and the delayed disbursement of government spending have combined to darken the economic outlook for 2015.Business team deliberating with lawyer

At the beginning of the year, there were few signs of a recovery in domestic demand. In January, the monthly data indicated that private investment and private consumption remained weak.

Exports were also low in January, suggesting that external demand is still lackluster.
Forecasts exports throughout the year that was previously growing 4.1% were revised down to 0.4%.

Only exception that the tourism sector is expected to grow by 13.7% with 28.8 million arrivals scheduled for 2015, based on the recovery observed since early 2015.

Weak exports drag on growth
As economic growth is dependent on exports to Thailand, economic forecasts and Centre of the University of the Thai Chamber of Commerce considered three scenarios:

Exports increased by 0.4 percent, and the growth rate will be 3.2%.

Export growth is zero and the rate of economic growth will be 2.9%.

The export growth rate was negative at -1%, and the rate of economic growth will be 1.9%.

Mr. Thanawat the likelihood of exports restart is low, however, because the major trading partners of Thailand as the European Union and Japan still experiencing an economic downturn.

The political climate remains tense
Recently, the Supreme Court of Thailand announced that it would launch pousuites against former Prime Minister Yingluck Shinawatra on her rice subsidy program.

The trial was set for 19 May.

If found guilty, the former prime minister could face up to ten years in prison, which could put an end to the political domination of his family, or otherwise trigger a new round of protests and riots street.

Posted in economy thailand | Leave a comment

Thailand: 10 injured in a car bomb attack on the island Koh Samui

Two other explosions were heard in Surat Thani and Phuket; the injured have still not been identified

Ten people were injured in the explosion of a car bomb in the parking lot of Central Festival on the island of Koh Samui Friday night, southeast of Thailand, reported local media.

Local authorities have not yet released the identity of the injured, two of them were tourists. Police opened an investigation.explosion a Samui

Witnesses from the reports made by Onesure Insurance said they heard two explosions in Surat Thani (southwest) and Phuket (South East), shortly after the shopping center.

Thailand is a popular destination for Israeli tourists who were more than 200 000 to visit the country in 2014.

Last Wednesday, an Israeli 12 year old died in a fire at a ferry that was sailing in the Andaman Gulf of Thailand.

One victim among the 117 passengers, the girl was trapped in her bathroom when the fire broke out at the engines.

She was traveling with her family to celebrate her bat mitzvah (religious majority in Judaism).

The Israeli Embassy in Thailand said investigating details of the accident, while a representative of a Thai Lubavitch community center was sent to assist the family which is the Krabi Hospital.

The accident occurred on the ferry Princess 5 Ao Nang, Krabi who was making the crossing in Phuket, two popular beach resorts.

Police initially thought the girl was rescued by another ship traveling to Phuket, but later found out that she had died on the ship.

Posted in news Koh Samui | Tagged | Leave a comment