Thailand’s economy isn’t a Land of Smiles – CNBC, July 26, 2015
…”Rural households are hit by a perfect storm in agriculture, drying up their cash flows when the debt burden remains elevated,” said Credit Suisse’s Santitarn, referring to the nine consecutive months of declines in international rice prices and the ruling military-backed government’s efforts to halt subsidies.
“Although the government has stepped up to provide $1.8 billion worth of soft loans to support farmers, we suspect the damage has been done. We expect this to act as further headwinds to consumption going forward,” Santitarn said…
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