World Bank says Thai economy could grow 2.5 – 3% in 2014

BANGKOK, May 11 (TNA) - The World Bank says it is confident Thailand’s economy could sustain growth between 2.5 to 3 per cent in 2014 on the condition that a new government could be formed before the end of this year, said Kirida Bhaopichitr, senior economist at World Bank’s office in Thailand. Miss Kirida said ongoing political problem is eroding investors and consumers’ confidence in short-term. However, the country’s economy could sustain growth between 2.5 to 3 per cent if a new government could be formed before the end of the year as the new administration would be able to disburse money from the budget expenditure for spending. The World Bank will review Thailand’s economy this October if a new government cannot be established before this year’s end, she said. What is worrying the World Bank for Thailand’s economy in long-term most is absence of stable government, she said, adding that the current administration could only solve immediate problems and cannot lay out national development plans for the next five or 10 years appropriately. Development in other countries could surpass Thailand if its national development comes to a standstill, Miss Kirida added. (TNA)