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Thursday, May 2, 2024

Delay poses risks to the economy

Chamber warns of impact to tourism

The atmosphere in front of parliament on Thursday morning during a voting session for a new prime minister. Mr Thanavath says if the government formation is delayed beyond October, the budgeting process may be postponed to the second quarter of next year, which could hinder economic expansion. (Photo: Apichart Jinakul)

The University of the Thai Chamber of Commerce (UTCC) expects a prolonged delay in the selection of a prime minister and formation of a new government, leading to protests that, if violent, will significantly affect tourism revenue, causing a loss of 500 billion baht, or a one percentage point decline in GDP.

Thanavath Phonvichai, president of the…

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