September 23, 2008
Bangkok - There would be more bankrupt financial institutions and employee layoffs due to world sluggish economy, according to the Thai Chamber of Commerce.
Thanawat Polvichai, director of the UTCC Economic and Business Forecasting Center, said worldwide non-performing loans would rise more after Lehman Brothers crisis.
Thanawat viewed that Thailand’s exports to the United States, Japan and Europe would slow down.
He thought Thailand’s economy would not be affected much, since Thailand mainly relied on Asian economies and oil prices have declined continually.
Asian GDP growth was expected to remain at 5-6% this year and next year.
It was estimated the food industry would be affected by the US economic crisis only for a short time.
