Political Crisis Weighing On Infrastructure
BMI View: The ongoing political crisis in Thailand continues to weigh heavily on our outlook of the country's infrastructure sector, with the crisis looking set to intensify before a resolution can be reached. This has already resulted in delays to the government's ambitious infrastructure plans, and could further limit growth potential in the infrastructure sector.
Since November 2013, Thailand's infrastructure sector has been heavily affected by the political turmoil gripping the country, and we believe that the outlook for the country's infrastructure sectors remains poor and highly uncertain based on the state of the country's business environment. This outlook is reflected in our forecasts (we currently only provide forecasts for the broader construction sector). Real growth for Thailand's construction sector is expected to be an unimpressive 1.9% in 2014 (previously 3.5%) and to average 2.4% per annum between 2014 and 2023, lower than the average real growth of 2.5% per annum between 2004 and 2013.
Political Crisis Unresolved
|Hit By Political Instability|
|Thailand Construction Industry Forecasts|