Election vote for Move Forward may have been a cry for help from voters mired in short-term debt

[webfact]

The stimulus plan and Keynesian economic proposals by the Pheu Thai Party, while the emphasis on structural reform of the economy and the goal of a welfare state from the Move Forward Party, may be reconcilable. Planners will have to have a deft touch with the economic recovery currently in such a fragile state with the need to avoid a political crisis looming large for the leadership of both leading political parties.

 

by Joseph O' Connor

 

Business frets about political instability and the potential policies of a Move Forward Pheu Thai government but there already appears to be growing problems beneath the surface of Thailand’s economy with private sector debt and a large proportion of the kingdom’s households surviving on short-term loan facilities while looking for a way out or a way forward, if you will.

As tensions and uncertainty grow about the formation of a new government, there are also concerns about the economic policies that may be pursued by a Move Forward Pheu Thai-led ministry with the outgoing government leaving behind a rising bill for public debt repayments and hidden borrowings in state-owned banks.

 

Business leaders are also warning that political instability is a threat to the foreign tourism industry which this year is the country’s economic lifeline amid depressed exports and a global downturn in trade. It comes as there is a growing concern about the growth of short-term debt among the less well-off who may have turned to Move Forward as the only way out of spiralling costs and marginal income.

 

Full story: https://www.thaiexaminer.com/thai-news-foreigners/2023/05/19/move-forward-win-a-cry-for-help-from-voters-economy-mired-in-debt/

 

-- © Copyright Thai Examiner 2023-05-20

 

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[dinsdale]

Election vote for Move Forward may have been a cry for help from voters mired in short-term debt

On the other hand it may have been a cry to get the military out of politics. I'm thinking it's the latter.

[herfiehandbag]

"Election vote for Move Forward may have been a cry for help from voters mired in short-term debt".

 

In which case we should ignore all this election malarchy, and rely upon the "good people" to take care of us ...

[Plern]

555

 

So, sour grapes.

 

Now, the elites are worried about the backlash from the population. Robbing publics coffers okay for the elite, military but when the public wants a piece of the pie we are on a bridge too far. Unsurprising. The economic issues cited are long standing and have been allowed to fester for years. Lucky no one is yet proposing a "French solution"

[BusyB]

6 hours ago, Plern said:

555

 

So, sour grapes.

 

Now, the elites are worried about the backlash from the population. Robbing publics coffers okay for the elite, military but when the public wants a piece of the pie we are on a bridge too far. Unsurprising. The economic issues cited are long standing and have been allowed to fester for years. Lucky no one is yet proposing a "French solution"

Or a 'Beijing solution' either - which has more tradition in LOS.

[KhunLA]

Try not spending what you don't have.   Rule # 1

 

People that rely on others or govt policies for their survival, apparently failed Economics 101

[hotchilli]

8 hours ago, webfact said:

Business frets about political instability and the potential policies of a Move Forward Pheu Thai government but there already appears to be growing problems beneath the surface of Thailand’s economy with private sector debt and a large proportion of the kingdom’s households surviving on short-term loan facilities while looking for a way out or a way forward, if you will.

Which is exactly why Thailand needs a new government like the MFP

The incumbent idiots have got Thailands populous and industry at an all time low mired in debt.

They need someone with a business brain to get them out of debt, that will not happen not by someone who has lived their entire life with a silver spoon in their mouth.