The Ministry of Finance is looking to evaluate economic effects the political demonstrations have had on the economy, after discovering that a large number of foreign tourists have decided against visiting Thailand.
Rangsan Siworasat, permanent-secretary to the Ministry of Finance, said on Tuesday that the Ministry was going to evaluate how current Ministry Finance policies, including the rice mortgage program, and investments in the 350 billion baht water management project and the 2 trillion baht infrastructures project, would contribute to economic expansion from now on.
According to Mr. Rangsan, the effects of the political demonstrations over the past month on the economy are now clearly visible. A large chunk of foreign tourist arrivals has disappeared because of the tourists’ concern over rallies turning violent. Investors have also delayed their investments to wait for more clarity in Thai politics.
Meanwhile, Bank of Thailand deputy governor Krirk Wanikkun said on Tuesday he believed the parliament dissolution was a positive development in the political situation. However, House dissolution may cause investments from the state sector to be somewhat delayed, and this may have some effects on economic expansion. He, however, believed that the various investment projects would be able to proceed as planned when a new administration took office.
