Thailand junta presents economic crisis plan

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thai coupThailand’s ruling junta has announced a series of measures aimed at averting an economic crisis, two weeks after the generals took power in a coup. Air Chief Marshal Prajin Juntong said the priorities were restoring the confidence of investors and maintaining fiscal discipline.

Small numbers of protesters took to the streets of Bangkok at the weekend despite a huge military presence. The military seized power on 22 May saying stability needed to be restored.

The soldiers detained senior politicians for several days and banned political gatherings of five or more people.But demonstrations against the coup have taken place almost daily in Bangkok. The army virtually sealed off Bangkok’s commercial district on June 2 in expectation of a big protest. But the protesters never materialised, instead rallying in other parts of the city. The streets and rail stations were reopened on June 3.

General Prajin laid out the junta’s economic plans, with a list of long-term priorities. The list included a promise that spending would not exceed the limits to be laid out in a forthcoming budget. In the short-term, he said a price-cap on fuel would remain in place for 30 days while wider restructuring of taxation was finalised.

Analysts say the fact that the junta is detailing its economic plans is another suggestion that it expects to be in power for some time.

Army chief Gen Prayuth Chan-ocha announced on May 30 that elections would not be held for more than a year, to allow time for political reconciliation and reform.

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Reading Time: 2 minutes

Thailand’s ruling junta has announced a series of measures aimed at averting an economic crisis, two weeks after the generals took power in a coup. Air Chief Marshal Prajin Juntong said the priorities were restoring the confidence of investors and maintaining fiscal discipline.

Reading Time: 2 minutes

thai coupThailand’s ruling junta has announced a series of measures aimed at averting an economic crisis, two weeks after the generals took power in a coup. Air Chief Marshal Prajin Juntong said the priorities were restoring the confidence of investors and maintaining fiscal discipline.

Small numbers of protesters took to the streets of Bangkok at the weekend despite a huge military presence. The military seized power on 22 May saying stability needed to be restored.

The soldiers detained senior politicians for several days and banned political gatherings of five or more people.But demonstrations against the coup have taken place almost daily in Bangkok. The army virtually sealed off Bangkok’s commercial district on June 2 in expectation of a big protest. But the protesters never materialised, instead rallying in other parts of the city. The streets and rail stations were reopened on June 3.

General Prajin laid out the junta’s economic plans, with a list of long-term priorities. The list included a promise that spending would not exceed the limits to be laid out in a forthcoming budget. In the short-term, he said a price-cap on fuel would remain in place for 30 days while wider restructuring of taxation was finalised.

Analysts say the fact that the junta is detailing its economic plans is another suggestion that it expects to be in power for some time.

Army chief Gen Prayuth Chan-ocha announced on May 30 that elections would not be held for more than a year, to allow time for political reconciliation and reform.

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