Report Leaked Call Fuels Fears of Economic Collapse, Thai Business Leaders Warn

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Thailand's Prime Minister Paetongtarn Shinawatra, centre, leaves after talking to reporters at Government house in Bangkok, Thailand, Thursday, June 19, 2025. (AP Photo/Sakchai Lalit)

 

A leaked audio clip of a call from Prime Minister Paetongtarn Shinawatra to Cambodian Senate President Hun Sen has set off alarms across Thailand. Mr. Poj Aramwattananon, chairman of the Thai Chamber of Commerce, expressed concerns that this incident could lead to the collapse of the Thai economy.

 

Channel 7 reported these potential ramifications, suggesting that the timing could not be worse given the current economic turbulence.

 

Thailand is already grappling with multiple crises. Geopolitical tensions, such as the Israel-Iran conflict, and mounting pressures from US tariff hikes exacerbate the financial landscape.

 

The tourism sector remains in recovery, coupled with insufficient government budgets compounding public debt by an additional 150 billion baht. This potent mix is causing unease, particularly within the capital markets, which Mr. Poj labelled as precarious.

 

The leaked call has also delivered a decisive blow to political confidence. With uncertainty looming, there is an urgent need to address this political scandal to restore stability.

 

Inaction or delay could intensify the economic risks, Mr. Poj warned. The possibility of Prime Minister Shinawatra's resignation or a dissolution of the House of Representatives introduces further variables into an already volatile equation.

 

In parallel, Mr. Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, echoed concerns about the impact on business sentiment.

 

The call leak, amid existing border tensions with Cambodia, is feared to depress economic performance further, potentially dragging it below target projections.

 

The stock market reflects these concerns, with the SET Index closing markedly lower at 1,068.73 points, demonstrating a 2.36% decrease.

 

The plummeting stock market was driven by decreased confidence and selling pressures in vital sectors, including service, media, transportation, and logistics.

 

The political uncertainty amplifies existing economic challenges, fuelling a precarious atmosphere for Thailand's financial future.

 

  Adapted by ASEAN Now from Thai Newsroom 2025-06-20

 

 

[ozz1]

And they want people to invest in Thailand what a joke with the stroke of a pen it could be gone and the baht still remains strong Thailand is still a third world country where the elites rule

[ikke1959]

Collapse of the economy by this?? I thought the economy was collapsing already.. Only negative news about tourism, closing factories, no new investments etc etc

[TheAppletons]

The SET 50 appears to be the worst performing stock market in the world, YTD:  -23.55%

 

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