Economy 'headed for collapse' | Bangkok Post: business

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Economy 'headed for collapse'

Virabongsa warns of conflict's huge damage

  • Published: | Viewed: 9,224 | Comments: 11
  • Newspaper section: Business
  • Writer: Pathom Sanongwongwanich & Wichit Chantanusornsiri
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Thailand’s economy is in danger of contracting in the first and second quarters and continuing its sluggish trend for another two or three years due to the political impasse, warns a former Bank of Thailand chairman. 

A pedestrian walks past a 3D art display on the skywalk at the Ratchaprasong intersection in Bangkok. The Tourism Authority of Thailand has joined with retailers to organise the Living Art Festival 2014 until June 8 to stimulate shopping sentiment amid the stagnant economy. PATIPAT JANTHONG

Virabongsa Ramangkura, a former deputy prime minister and central bank chairman, said polarised politics and refusal to adhere to the constitution and rule of law have formed the basis of the economic slowdown.

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