Thai Generals Are Stuck With a Lackluster Economy
- World Bank data shows economy as Southeast Asian laggard
- Government projects in focus as company investment sputters
This picture taken on February 10, 2017 shows Thai Territorial Division volunteers marching during a ceremony marking 'Volunteers' Day' in Thailand's restive southern province of Narathiwat. / AFP / MADAREE TOHLALA (Photo credit should read MADAREE TOHLALA/AFP/Getty Images)
Photographer: Madaree Tohlala/AFP via Getty ImagesOnce prized in Southeast Asia for its economic strength, the new reality for Thailand three years after the military seized power is growth that’s lagging behind peers.
The economy will expand 3.3 percent a year on average from 2017 to 2019, according to the World Bank, the weakest among eight developing Southeast Asian nations. The outlook is brighter elsewhere in the region as countries vie for investment: the Philippines is growing more than 6 percent a year and Indonesia at a pace of about 5 percent.