Pessimistic view of Thai people on the country’s economic conditions

Most Thailand citizen believe that the country’s economy has not improved or only improved slightly in 2016 as compared to the year before. This is the result of an option poll conducted by the Thailand National Institute of Development Administration (NIDA).

The poll was conducted in December 2016 with participants of different education and occupation background. With the probing question: ‘Has the Thailand’s economy improved as compared to year 2015?’ NIDA received 40% of the participants who did not see any improvement, 16% believed the condition was even worse and 28% saw a slight improvement.

Regarding the demand pull policy regulated by the Government at the end of 2016, 42% of the poll respondents said that it can assist to overcome the current economy state. 37% claimed that this policy is inappropriate and will not be sustainable, while one tenth said that they see no differences between the new and the previous policies.

According to a large number of economic experts, Thailand’s economy is expected to grow at 3.2% in 2017, as compared to 3.1% to 2016. Despite this expected improvement, Thailand still needs to find solutions for its high level of household debts. It is recorded in 2016 that the household debts in Thailand hit the highest rate in 8 years, with debts averaging about $3,400 per family.

Sources: 1, 2