Thailand’s economy is expected to remain resilient despite the recent Constitutional Court ruling that removed Prime Minister Srettha Thavisin and his Cabinet from office. The court’s 5-4 decision has caused short-term concerns about economic confidence, particularly regarding ongoing projects and plans.
Sanan Angubolkul, Chairman of the Thai Chamber of Commerce and the Board of Trade of Thailand, expressed confidence that the tourism sector, a key driver of Thailand’s economy, will continue to support growth and help mitigate potential negative impacts. He emphasized the urgency of quickly selecting a new prime minister and forming a new cabinet to restore confidence and ensure the economy remains on track.
The Chamber of Commerce hopes for a swift return to political stability and urges the government to expedite public spending to sustain economic momentum. Despite the current political uncertainty, Sanan remains optimistic that the budget for 2025 fiscal year can still be considered and approved, allowing for continued economic progress.
The Chamber’s focus is on ensuring that the political process leads to a fully empowered government capable of effectively managing the country’s development and addressing pressing economic issues. (NNT)
