Post-election government to face economic test

[webfact]

Post-election government to face economic test

By THE NATION

 

 

THE NEXT government will inherit a slower economic growth rate of 3.8 per cent this year amid global market uncertainties and the domestic challenge to narrow economic inequality, according to the National Economic and Social Development Board (NESDB), the country’s top planning agency.
 

Yesterday, the Election Commission (EC) confirmed its readiness to hold the next general election on March 24.

 

Meanwhile, the Democrat Party expressed optimism yesterday that it would win more House seats in the North and Northeast, which are traditional strongholds of its rivals, the Pheu Thai Party.

 

Based on the agency’s latest assessment for the new government to be formed after the March 24 general election, NESDB secretary-general Thosaporn Sirisumphand said global market uncertainties will likely affect the country’s export sector, whose growth will also slow to 4.6 per cent, and also the tourism sector.

 

As a result, the new government will have to speed up the process of construction of the remaining mega-infrastructure projects to help drive this year’s economy whose growth rate will be less than the 4.2 per cent projected for 2018.

 

The NESDB also urged the new government to provide welfare and implement other measures to take care of low-income people in order to reduce economic inequality.

 

The latest report is expected to be used by political parties in formulating economic and social policies for the upcoming election. Thosaporn said a major challenge for the new government was the global economic slowdown but the NESDB was confident that the Thai economy could still expand by 3.8 per cent this year.

 

Thai exporters will have to find new markets to cope with impacts from the US-China trade conflict so as to meet this year’s export growth target of 4.6 per cent. However, he said, the tourism sector and private consumption had recovered so they will contribute to this year’s GDP growth, but the new government will have to push bidding for new mega-infrastructure projects and ensure implementation of existing projects are not disrupted.

 

They include the multiple mass transit lines in Bangkok and its periphery, the double-railway and the Eastern Economic Corridor (EEC) projects. In addition, another nine projects such as Suvarnabhumi Airport expansion and Bang Yai-Kanchanaburi motorway should be considered and approved by the new government to help boost the country’s economic growth.

 

 

Thosaporn said the new government should also focus on helping low-income farmers and wage earners via subsidy programmes, citing the outgoing government’s annual budget of more than Bt40 billion for those with state welfare cards as an example in which the country’s GDP growth has been increased by 0.2-0.3 per cent due to the economic multiplier effect.

 

Meanwhile, EC secretary-general Jarungvith Phumma said yesterday that political parties and politicians were cooperating well with his agency and there were no legal violations so far. “The EC is fully prepared to hold the election. Things are all going well and nothing wrong has happened,” Jarungvith said yesterday.

 

 

He urged people planning to cast their votes in advance, as well as Thai expatriates who want to vote overseas, to register between today and February 19. Also, he said the EC would issue clear guidelines within a day or two about the places where election candidates can display their campaign posters.

 

The EC’s chief election official for Bangkok, Witchuda Mekanuwong, said yesterday that election candidates planning to campaign through electronic and social media should inform the EC’s provincial directors.

 

She said that the EC’s Bangkok office would hold training for its officials today about their expected duties, authority and relevant regulations.

 

Yesterday, senior Democrat politicians expressed confidence that the country’s oldest political party would have a better chance of winning in northern and northeastern provinces in the upcoming election than in the past. “We are confident that northern voters will give us more opportunity.

 

 

Our policy platforms better address the people’s problems and will result in more votes for us. We lost in the past but we will have a better chance of winning now,” Democrat leader Abhisit Vejjajiva said during his campaign in the northern city of Chiang Mai yesterday.

 

Also yesterday, former police chief Seripisut Temiyavej, leader of the Seri Ruam Thai Party, asked voters to “kill dictatorship with your pens”.

 

He accused junta leaders, particularly Prime Minister General Prayut Chan-o-cha, of attempting to return to power after the election.

 

 

Source: http://www.nationmultimedia.com/detail/politics/30363043

 

-- © Copyright The Nation 2019-01-28

[Reigntax]

Unfortunately the horse has bolted for Thailand. The only thing saving it to date is the convienence of Bangkok as a stop over or refueling location.

 

Once a neighboring country realises this and builds a suitable alternative, it will be bye bye Bangkok and the country can return to the 19th century where the junta have been trying to keep it for the last 70 years

[YetAnother]

3 hours ago, webfact said:

and the domestic challenge to narrow economic inequality, according to the National Economic and Social Development Board (NESDB),

what real incentive will the next govt have ? they are solidly among the 'haves', not the 'have-nots'

[grumbleweed]

3 hours ago, webfact said:

Post-election government to face economic test

I'm sure Prayuth will take it all in his stride

[Oziex1]

The economic test is simple, we get richer you get some scraps.

 

Thai economics.

[Ossy]

4 hours ago, webfact said:

Post-election government to face economic test

Erratum me suspectum: This should, I suspect, read 'Post-election government to face economic Mission Impossible'. But worry not . . . Apisak & Co have already secured the exclusive advice from Theresa & Co once she's stopped scoring own-goals in her exciting Brexit game.

 

So, no worries then . . . or Mae pen rai looks better or more normal. Everything will work out OK.

[yellowboat]

5 hours ago, webfact said:

He accused junta leaders, particularly Prime Minister General Prayut Chan-o-cha, of attempting to return to power after the election.

The taste of power for him is sweet, but for the Thai people his rule has only brought bitterness. 

 

Given general cha cha did very little for the average Thai and their second tier economy, nobody in their right mind should vote for him.  It will be interesting to see by vote how many in the population are masochists. 

[Sydebolle]

The post-election government would face not only economic tests. Thailand is at the brinks of an abyss and there will be tests across the board. I - for one - fear that

Thailand will not be able to face the music and disintegrate into cultural, economic and religious clusters throughout the country. The crooks who ruined this country over the last decades will stop at nothing to breathe down the electorates necks and the selected few oligarchs will squeeze the Thai lemon beyond its last drop. Result will be a disintegrated society with in adequate education skills and might be there where the Philippines are now today; compare the latter to where they were 30+ years ago and you see a possible Thai timeline. How sad indeed ???? 

[Eric Loh]

7 hours ago, webfact said:

Post-election government to face economic test

Severe headwinds facing Thailand with trade tensions, consumer deleveraging due household debts, slowing China economy, appreciating Baht and deficits from junta's lavish spending. The next government will have to pick up the pieces from the USD15B cost of the coup, slowing GDP, loss of FDI and less revenue collection. The economic consequences of the coup has again dealt Thailand another body blow and denied the country progress and a better life for the people.    

[Baerboxer]

4 hours ago, yellowboat said:

The taste of power for him is sweet, but for the Thai people his rule has only brought bitterness. 

 

Given general cha cha did very little for the average Thai and their second tier economy, nobody in their right mind should vote for him.  It will be interesting to see by vote how many in the population are masochists. 

 

Bitter - don't see that really. A few jealous they ain't got seats at the trough. 

 

Vote here is a choice of crooks. None, zilch have previously done as much for the masses as themselves. You really think that will change?

[Eric Loh]

52 minutes ago, Baerboxer said:

Vote here is a choice of crooks. None, zilch have previously done as much for the masses as themselves. You really think that will change?

Politicians are all crooks by nature of their greed for money or power. There are better chances of change to a more accountable government if there is a process like an election. Grabbing and staying in power illegitimately deny the nation of that only chance. History have shown that countries with less or no coups will gradually have better government. South Korea, Indonesia and Malaysia are some of the better examples. 

[Valentine]

Unless the puppeteers change their ways nothing will change no matter who is the face of government

[manchega]

I remember reading the foreign reserves have been depleted since the dictator and military cronies came into power.

 

I expect that will be challenging for who gets in control next.

 

 

[RichardColeman]

Any downturn in any figures will just be the reason for a new coup if its not an already junta government

[worgeordie]

With all the spending on weapons of war by this Government,

if its a completely new one,they will have to take a good look at

the books,Tanks,subs,planes,helicopters,not to mention the

Billions of THB that have been given away in populist policies.

regards worgeordie