Private sector sees short-term effects of bomb attacks

BANGKOK , Aug 13 (TNA) – The private sector believes the recent bombings in multiple locations across Thailand will only have short-term impacts on the Thai economy if security officers can quickly ease the situation. Thanawat Polvichai, director of the Centre for Economic and Business Forecasting at the University of the Thai Chamber of Commerce, said the bomb attacks were apparently not linked to international terrorism. Still, security officers have to investigate if any militants in the three southern most provinces of the kingdom or other groups are involved. A series of bomb blasts hit five provinces, most of which are Thailand’s popular tourist resort towns, including Hua Hin and Phuket, between Aug 11 and 12. The explosions killed four people and injured dozens. Mr Thanawat said economic damage caused by the bombings was estimated at less than one billion baht if the officers could quickly ease the situation. Mr Kalin Sarasin, vice chairman of the Thai Chamber of Commerce, also thinks that the bombing incidents will only have short-term economic effects as the officers are believed to bring the situation back to normalcy very soon. Meanwhile, Chen Namchaisiri, chairman of the Federation of Thai Industries, said it is too soon to estimate country’s economic loss as the cause or motive of the blasts is still unclear. He said the Joint Standing Committee on Commerce, Industry, and Banking maintain its forecast on Thailand’s economic growth at 3-3.5 per cent in 2016. (END)