Bangkok, July 13 - The Thai Chamber of Commerce expects to vote for the prime minister. Establish a government during August-September, stating that protracted violent protests have affected tourism revenue, losing 500 billion baht, pulling GDP down by 1 percent

Mr. Thanawat Phonwichai, President and Chief Advisor to the Center for Economic and Business Forecasting University of the Thai Chamber of Commerce revealed that Voting for the Prime Minister today has to wait to see if Will there be an electoral vote? because it is an indicator of the recovery of the Thai economy From the results of the business survey They were concerned about the establishment of a protracted government. If dragging out for a long time There will be no real ministers to drive new policies to revive the economy. both businessmen and consumers Keep an eye on the vote for the Prime Minister. will summarize today Or have to vote for many formulas in the next day

The University of the Thai Chamber of Commerce predicted that the establishment of the government No matter what formula who is the prime minister If the government can be established during August-September 2023, this is considered to have little effect on the economy. would not be severe because it is still in the frame Able to move forward with various investment budgets using the original binding budget framework As for the use of the 2024 budget, it may be postponed for disbursement in March 2024, allowing the business sector to plan investments. But if the protracted government is established Leaving October budgeting process May be postponed to the second quarter of 2024, accepting the wide-ranging impact on economic growth, therefore wanting local government organizations moving forward with the original project and government agencies use budgets for procurement of equipment to make money into the system

Mr. Thanawat estimated that If the vote for the Prime Minister is smooth form a government to take various measures to drive investment without violence The economy grew by 4 percent, but if selection Prime Minister and the establishment of a new government there was a violent protest Foreigners warn tourists traveling to Thailand From the original expectation of 30 million tourists if the second half of the year Lost 10 million tourists, admitting that the loss of tourism income was 500 billion baht, affecting GDP to 1 percent, which did not want such an event to happen.

As for the Consumer Confidence Survey in June 2023, the Consumer Confidence Index rose to 56.7 from 55.7 for the 13th consecutive month and was at the highest level in 40 months since March 2020. Since then, because consumers feel that the economy has started to improve. after tourism has clearly recovered As a result, more money is circulating in the country and economic activity in various regions. improved While the future consumer confidence index was at 63.9 from 63.1, slightly increased due to Consumers remain concerned about the uncertainty in the formation and stability of government politics after the election. Including the cost of living is still expensive. .-Thai News Agency

Source: Thai News Agency