Wednesday, 31 December 2008

Political crisis may push Thailand into recession, says Abhisit

The Standard
(12-30 14:16)

Thai Prime Minister Abhisit Vejjajiva has warned of the fallout from a crisis that has seen four prime ministers this year and paralysed policymaking, culminating in an airport blockade by demonstrators at the turn of the month that crippled tourism.

''Political conflicts that have spread to civic groups could push the economy, along with the tourism industry, into recession if action is not taken quickly to resolve them and revive confidence among investors and foreign tourists,'' he said.

''These conflicts are the country's weakness, especially at a time when the world economy is entering its worst crisis in a century.''

Export figures are expected to show plunging demand for exports. The economy is likely to contract this quarter and may slide into recession next year.

No comments: