Academic: Amnesty rallies harm GDP
- Published: 1 Nov 2013 at 13.03
- Online news:
Ongoing anti-amnesty bill protests will have significant impact on the country’s economy, delaying private investment and slowing domestic consumption, an economist at Chulalongkorn University warned on Friday.
Somprawin Manprasert, deputy dean of the faculty of economics at the university, said gross domestic product (GDP) expansion is likely to be trimmed by about 0.2% if the rallies stay peaceful.
But if protests turn violent and lead to another military coup, GDP growth will be immediately trimmed by as much as 0.5%, he claimed.
In the short-term, protests should not affect the confidence of foreign investors, he said, but if they escalate, foreign countries could advise citizens not to visit Thailand, which could damage the tourism sector during high season.