Just look at the USD Baht performance – gauge that awkward feeling?
The Thai economy will decelerate in the third quarter primarily due to weak private sector demand.
Evidenced by the annual contractions recorded in both the private consumption and private investment indices in July.
Moreover, consumers were less confident in August.
Stalling economic activity is adding pressure on the military-run government to speed up the implementation of economic reforms in order to spur growth.
As a result, earlier this month, the government approved economic measures worth more than USD 9.0 billion aimed at boosting spending in rural areas and helping small firms.
In early September, the Thai government announced a package of short-term stimulus measures worth THB 342 billion (USD 9.58 billion) in an effort to jumpstart the sluggish economy.
Guess what – ain’t going to work. . .