The political uncertainty plaguing Thailand for more than two years has contributed to an economic slowdown, which has only been aggravated by the global recession. Signs of a downturn are everywhere, as plentiful as the antigovernment demonstrations that shut Bangkok’s airports in December and brought tourism to a screeching halt, striking an almost fatal blow to a pillar of the Thai economy.
Inflation, which reached a 10-year high in July 2008 and averaged 5.5 percent last year, is easing, but still projected to be 3 to 4 percent in 2009. Thailand’s economic growth is projected to be 4 to 5 percent this year, down from a 5.1 percent projection in 2008.
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