Prime Minister Gen Prayut Chan-o-cha has encouraged investors to focus on the robust economic fundamentals of Thailand, while assuring that recent fluctuations in the capital market are temporary in nature.
Last week, the Thai stock market experienced a decline due to concerns among investors regarding post-election political uncertainty, as the winning parties are still in the process of forming a new government.
According to Deputy Government Spokesperson Traisuree Traisoranakul, the prime minister remains confident in the overall strength of the Thai economy, which is driven by the recovery of the tourism sector, new investments from the private sector, promotional incentives provided by the Board of Investment (BOI), and the uninterrupted progress of projects in the Eastern Economic Corridor (EEC).
Furthermore, Traisulee noted that the premier aspires for Thailand to become a prominent destination for new investors seeking alternative bases for their investments amidst geopolitical tensions. To that end, he has urged state agencies to expedite the disbursement of their budgets for the 2023 fiscal year, which have already been allocated.
The current estimate suggests that approximately 1.96 trillion baht has already been disbursed out of a total budget of 3.18 trillion baht, representing 61.62% of the entire allocation. When factoring in the overlapping budget of 190 billion baht, the total disbursement is estimated to be around 2.08 trillion baht.
Gen Prayut emphasized that his caretaker government will continue to fulfill its duties within the legal framework and ensure the confidence of both the general public and investors until the establishment of a new government. (NNT)
