BANGKOK, Nov 28 (TNA) - Thailand's gross domestic product (GDP) in 2008 could register its lowest on record -- only 2 per cent -- as projected by many academic institutes as Thailand's economy was severely impacted both by the global financial crisis and domestic political turmoil to such an extent that it could not be forecast when it would end, according to Finance Minister Suchart Thada-Thamrongvech.
The minister said the most worrisome factors are the worsening economy and domestic politics in the event of no compromise.
Mr. Suchart said the political turmoil -- including the closure of the country's two main airports, Suvarnabhumi and Don Mueang, had shattered the confidence of the international business community and would at least a year to revive confidence.
If the crisis drags on for three months, the National Economic and Social Development Board (NESDB) estimates that it would affect the government income by Bt100 billion as the protest has a strong impact on the tourism industry, foreign affairs and business confidence.
The PAD seized the Government House in late August and stepped up its pressure by occupying Suvaranbhumi International Airport on Tuesday and storming Don Meaung domestic airport Wednesday, which virtually paralysed air traffic in the kingdom. (TNA)
Business News : Last Update : 17:34:22 28 November 2008 (GMT+7:00)
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