The two-day plunge of Thai stocks will have only a short-term impact, hardly shaking the national economy which remains strong and tends to expand, state financial experts predict.
The Stock Exchange of Thailand (SET) went down for the second consecutive day since Monday amid unease over the trade war between the US and China, which have increased tariffs on each other's products.
However, the country will continue its economic growth this year, Kulaya Tantitemit, spokeswoman and inspector-general of the Finance Ministry, said on Wednesday.
GDP growth expectations stay unchanged at the latest projection of 4.5% thanks to expanding exports, a depreciating baht and increasing number of foreign tourists, she said.
All these factors help Thailand bring revenue into the country.
Domestically, Ms Kulaya said, state spending with growth estimated at 9% will "crowd in" money from the business sector, stimulating the private sector to follow suit.
Private investment is expected to grow more than 3%, which is a "picture we've not seen for many years," she said.
Echoing Ms Kulaya's predictions, Soraphol Tulayasathien, director of the bureau of macroeconomic policy under the Fiscal Policy Office, said Thailand is largely immune to the global impact of the trade war.
In addition to good export prospects, domestic consumption and state spending, remain key drivers for Thai economy.
The country has very strong foreign exchange reserves of US$212 billion, about 3.6 times its short-run foreign debt.
"So we have enough bullets" in the fight if there is a new economic crisis, Mr Soraphol said.
