Thailand junta presents economic crisis plan

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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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. 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...

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.



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