If it does so, the baht could end the year at 37 against the US dollar. Another risk that will add pressure to the country's economy is the plunge in imports, especially durable goods, which indicates the ongoing private investment slowdown. "No matter if the result is yes or no, the election is likely to be held by the end of next year or early in 2018. With the announcement of a clear road map for the election, confidence is likely to improve, leading to improving economic recovery," he said.However, he does not expect the recovery to be strong even if Thailand has a clearer political outlook. Amonthep Chawla, head of the bank's research unit, said yesterday that CIMBT would unveil new economic-growth forecasts after second-quarter GDP growth is announced by the National Economic and Social Development Board on August 15.CIMBT early this year targeted Thailand's GDP growth this year at 2.7 per cent, and 2.8 per cent in 2017.Amonthep said exports this year would continue to decline because of the global economic uncertainty from the Brexit vote.

Source: The Nation Bangkok August 05, 2016 18:01 UTC