Thai economy feels sting from political uncertainty Aug 6th

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BANGKOK – Thailand’s stagnating economy is unlikely to get much of a boost from a referendum Sunday on a new constitution proposed by the military government, which took power in a 2014 coup. A “yes” vote could, however, tamp down some of the uncertainty that has plagued the country over the past half-decade of instability.
An update on how Thailand’s economy is faring under military rule:
THE OUTLOOK: Government spending and tourism are keeping growth afloat despite weak exports and plunging foreign investment. The World Bank forecasts that the economy will expand at a 2.5 per cent annual rate this year, down from 2.8 per cent in 2015.
LIVING STANDARDS: At $395.3 billion, Thailand is Southeast Asia’s second biggest economy after Indonesia. The gap between rich city dwellers and the rural poor is wide, and while extreme poverty has been almost eliminated, one in 10 Thais remain below the official poverty line of $6.20 a day. In the past year, drought and falling global prices have hurt farm incomes…

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