BANGKOK: Thailand’s economy is still stuck in first gear nearly six months after the army overthrew the government to end months of turmoil, with demand at home and abroad stubbornly weak and big government projects unlikely to bear fruit until next year.
A spate of poor economic data, including the government’s economic downgrade yesterday, is an uncomfortable reminder to the junta at a time when expectations are running high. When it seized power in May, the army said it needed to restore order, kickstart growth and “return happiness to the Thai people”.