Thai street protests caused $2.2b in damage

stop capitalism ThailandThe anti-government rallies in Thailand so far caused more than $2.2 billion in economic damage to the country, Pichai Naripthaphan, a member of the economic team of the ruling Pheu Thai Party, claimed on December 19 according to the Bangkok Post.

He warned that if the protests are prolonged, the country’s economy, particularly the tourism sector, would be “severely affected and economic growth curtailed.” If the general election does not take place on Feb 2 as scheduled, it would erode international confidence in Thailand, he said.

Foreign investors in the Thai stock market had already sold off more than $6.25 billion worth of shares since the protests began. Some of them had decided to move production bases to other countries, he claimed.

The former energy minister called on all sides to respect the rules of democracy and support the coming general election and implement national reform at the same time. Pichai said as many as 50 countries had already supported the planned February 2 election to allow the majority of people to help put an end to the ongoing political problems.



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The anti-government rallies in Thailand so far caused more than $2.2 billion in economic damage to the country, Pichai Naripthaphan, a member of the economic team of the ruling Pheu Thai Party, claimed on December 19 according to the Bangkok Post. He warned that if the protests are prolonged, the country’s economy, particularly the tourism sector, would be "severely affected and economic growth curtailed." If the general election does not take place on Feb 2 as scheduled, it would erode international confidence in Thailand, he said. Foreign investors in the Thai stock market had already sold off more than $6.25 billion worth...

stop capitalism ThailandThe anti-government rallies in Thailand so far caused more than $2.2 billion in economic damage to the country, Pichai Naripthaphan, a member of the economic team of the ruling Pheu Thai Party, claimed on December 19 according to the Bangkok Post.

He warned that if the protests are prolonged, the country’s economy, particularly the tourism sector, would be “severely affected and economic growth curtailed.” If the general election does not take place on Feb 2 as scheduled, it would erode international confidence in Thailand, he said.

Foreign investors in the Thai stock market had already sold off more than $6.25 billion worth of shares since the protests began. Some of them had decided to move production bases to other countries, he claimed.

The former energy minister called on all sides to respect the rules of democracy and support the coming general election and implement national reform at the same time. Pichai said as many as 50 countries had already supported the planned February 2 election to allow the majority of people to help put an end to the ongoing political problems.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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