Thai economy is nearly in crisis: Caretaker finance minister

The Thai economy grew 2.3% in the April-June quarter from a year earlier, accelerating from the 1.6% growth in the prior quarter. - Bloomberg

BANGKOK: Thailand's economy is nearly in crisis due to declining exports and uncompetitive manufacturing, the country's caretaker finance minister said on Wednesday (Aug 21).

Exports accounts for 70% of the economy but the manufacturing sector can't meet market demand, Pichai Chunhavajira told a business seminar.