UTCC: Election campaign spending could generate 30-50 billion baht

Na-ark Rojanasuvan

 

 

BANGKOK - A new study predicts that election campaigns are likely generate 30-50 billion baht for the economy, following the Election Commission’s confirmation of the general election date, March 24th.

 

According to the Center for Economic and Business Forecasting of the University of the Thai Chamber of Commerce, the Modern Trade Sentiment Index (MTSI) for the fourth quarter of 2018 based on 78 major business entities from the central plains and rural areas had inched up to 52.1 from 51.7 in the previous quarter. The figure is a clear indication that the purchasing power of the public has improved, due to the government’s various stimulus measures, the tourism season, the improved agricultural product prices, and brighter political prospects.

 

Thanawat Polvichai, the Director of the Center for Economic and Business Forecasting, believes that the purchasing power of the general public will continue to improve, due to election campaigning by political parties, expected to generate up to 50 billion baht the Thai economy. He estimates that the figure will add 0.2-0.3% to the nation’s GDP. Other positive factors include the spending stimulus package during the fast approaching Chinese New Year festival, and the VAT rebate scheme, while negative influences remain the trade war between the US and China, and the Brexit ordeal. He expects Thailand’s economy will expand 4-4.5% this year.

 

Meanwhile, an executive of CP All Public Company Limited has voiced his speculation that members of the public will be encouraged to spend more after the general election. He is of the opinion that government spending will increase and the tourism sector will recover, contributing to the sustainability of the Kingdom’s economic growth.

 

-- nnt 2019-01-26

Oh Lord won't ya buy me a Mercedes Benz,

My friends all drive Porches, I must make amends.

11 minutes ago, rooster59 said:

A new study predicts that election campaigns are likely generate 30-50 billion baht for the economy

I think the media reports have got their wires crossed. This 30-50 billion baht figure is probably what the Junta remote cabinet carry-ons have already cost the country, a cost that they will now, under this dodgy press release, sweep under the 'election' carpet . . . how convenient!

How many votes will that figure buy?

let the vote buying begin!