Political uncertainty remains major risk factor of Thai economy

BANGKOK, June 4 (TNA) - The Center for Economic and Business Forecasting, under Bangkok-based University of the Thai Chamber of Commerce (UTCC), says that an uncertainty in the domestic politics remains a major risk factor of the Thai economy in the coming months. The center's director, Thanawat Phonvichai, made the comment on June 3, cautioning that unless there would be local and general elections as scheduled, Thailand's consumer confidence index (CCI), investment and national economy could be affected consequently. Thanawat pointed out that concerns over low prices of Thai farm products would also affect confidence in the national economy and purchasing power of local people in provincial areas in particular. Thanawat noted that a slow concrete result from the Thai government's mega-investment projects on local consumers in terms of more job creations could, as well, become a risk factor to the recovering national economy. Besides, a possible trade war on the global stage, following the United States' recent imposition of stiff tariffs on imported steel and aluminum products could be another risk factor of the expanding Thai economy, which should be closely monitored by the Thai government. The senior economist, meanwhile, expressed no worry over reports on a possible new reshuffle of economic ministers in the Thai Cabinet, as Prime Minister Prayut Chan-ocha and his aides are believed to pick up competent persons who are acceptable to the public to join the Cabinet to drive forward the national economic development and growth. (TNA)