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Thai GDP May Shrink to 1.5 Percent in Case of War in Iraq.
Byline: Darana Chudasri
Nov. 6--Thailand's economic growth could contract to as little as 1.5 percent next year in the event of a US-Iraq war and global deflation, according to the Thailand Development Research Institute.
The economy could grow by between 3-3.5 percent, if a Middle East war was protracted, as long as deflation could be avoided, said Somchai Jitsuchon, a TDRI researcher.
But economic growth could reach 4-4.5 percent in the next year under normal circumstances, he said.
Thailand has recorded rising household debt as a result of the government's fiscal stimulus programmes. But it could take one year to assess banks' ...
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