(MENAFN) Thailand's top business group expects exports to shrink this year, a further worrying sign for the already-struggling military government, Khaleej Times reported.
The military government hopes its recently announced plan to spend USD11.2 billion will help the economy to expand 2 percent this year, despite a first-half contraction.
Exports, which account for more than 60 percent of the economy and unaffected by the unrest, are also struggling due to slower-than-expected recoveries in key markets and declining commodity prices.
"Exports are likely to be negative this year, about 1 percent, based on our assumption that shipments for the remaining three months of this year will be the same as last year's," chairman of the Thai Bankers' Association said.
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