A work er paints a renovated building in a shopping district in Bangk ok. Thailand’ s Finance Ministr y has ag ain cut its economic growth forecast to 1.4% from 2% made in J uly – the we ake s t growth since 2011. — EPA
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”.
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