Thai government sticks to election roadmap

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thailand-mourningThe Thai government reassured that plans to stage elections by the end of next year remain unchanged despite the sad demise of Thailand’s King Bhumibol last week and the subsequent one-year mourning period which started on October 14.

“The government has reaffirmed its commitment to following the roadmap for general elections scheduled for late next year,” the Bangkok Post reported on October 17.

Officials also stressed that the economy and government “will work as normal” throughout the one-year mourning period.

The basis for the general election, the new constitution which was accepted by the public in August, will be sent to the palace for approval no later than early November where interim Regent General Prem Tinsulanonda is expected to sign it within 90 days. (UPDATE: Prime Minister Prayut Chan-o-cha on October 19 said that the new constitution will be submitted to be royally endorsed by the new king himself within the time frame stipulated by the interim charter.)

Please credit and share this article with others using this link:http://www.bangkokpost.com/news/general/1113617/govt-mulls-royal-succession-time-frame. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Post Publishing PCL. All rights reserved.

Meanwhile, Thailand’s economic indicators have improved after a steep fall of the baht and stock prices ahead of the shock news of the King’s passing away. In a reverse move, the Stock Exchange of Thailand Index (SET) traded up over 4 per cent on Friday last week, while the Thai currency gained over 1 per cent against the US dollar. On Monday, October 18, the currency’s recovery continued while the SET remained flat.

“We think that market volatility will ease as the government continues to communicate clearly and cautiously to the public on how the transition will be, and reaffirms that general elections will continue under the roadmap,” Pimonwan Mahujchariyawong, deputy managing director of Kasikorn Research Center, said according to Reuters.

Economic growth projections for Thailand by analyst of major international banks remain between 3.1 and 3.5 percent GDP growth forecasts for 2016 and 2017.

 

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Reading Time: 2 minutes

The Thai government reassured that plans to stage elections by the end of next year remain unchanged despite the sad demise of Thailand’s King Bhumibol last week and the subsequent one-year mourning period which started on October 14.

Reading Time: 2 minutes

thailand-mourningThe Thai government reassured that plans to stage elections by the end of next year remain unchanged despite the sad demise of Thailand’s King Bhumibol last week and the subsequent one-year mourning period which started on October 14.

“The government has reaffirmed its commitment to following the roadmap for general elections scheduled for late next year,” the Bangkok Post reported on October 17.

Officials also stressed that the economy and government “will work as normal” throughout the one-year mourning period.

The basis for the general election, the new constitution which was accepted by the public in August, will be sent to the palace for approval no later than early November where interim Regent General Prem Tinsulanonda is expected to sign it within 90 days. (UPDATE: Prime Minister Prayut Chan-o-cha on October 19 said that the new constitution will be submitted to be royally endorsed by the new king himself within the time frame stipulated by the interim charter.)

Please credit and share this article with others using this link:http://www.bangkokpost.com/news/general/1113617/govt-mulls-royal-succession-time-frame. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Post Publishing PCL. All rights reserved.

Meanwhile, Thailand’s economic indicators have improved after a steep fall of the baht and stock prices ahead of the shock news of the King’s passing away. In a reverse move, the Stock Exchange of Thailand Index (SET) traded up over 4 per cent on Friday last week, while the Thai currency gained over 1 per cent against the US dollar. On Monday, October 18, the currency’s recovery continued while the SET remained flat.

“We think that market volatility will ease as the government continues to communicate clearly and cautiously to the public on how the transition will be, and reaffirms that general elections will continue under the roadmap,” Pimonwan Mahujchariyawong, deputy managing director of Kasikorn Research Center, said according to Reuters.

Economic growth projections for Thailand by analyst of major international banks remain between 3.1 and 3.5 percent GDP growth forecasts for 2016 and 2017.

 

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