Private investors wait for general election in Thailand

BANGKOK, June 25 (TNA) - Private investors in Thailand want the country's new general election to be held early next year; otherwise, there may be a slowdown in private investment projects in the Thai economy. Anusorn Thammajai, Dean of the Faculty of Economics, Thailand-based Rangsit University, told journalists on June 24 that his faculty has maintained its projection of the country's gross domestic product (GDP) growth this year at 4.1-4.7 per cent year-on-year, the average inflation rate at 1.0-1.5 per cent, the private consumption at about 3 per cent and the private investment expansion at about 3.4 per cent. However, Anusorn cautioned that Thailand could face an immediate slowdown in private investment projects if there would be no new general election in the country by first months in 2019. Anusorn also noted that the purchasing power of the general public, especially those in provincial areas, remains low, caused by the uneven income distribution in the country as benefits from the recovering Thai economy have been focused on the capital-intensive export sector, while the prices of some Thai farm products have declined. The senior academic and economist warned that the latest trade war between the United States and China, if prolonged, could negatively affect the world trade, Thai exports and the Thai stock market. The senior academic pointed out that concerns over the latest trade war between the two major trading partners have resulted in a net sale of shares on the Stock Exchange of Thailand (SET) by foreign investors at about 165 billion baht during the first half of this year, saying that the uncertain domestic political situation has also had some impacts on the Thai bourse. (TNA)