Thai economy will earn THB120bil as parties spend big in vote battle

BANGKOK (The Nation/Asia News Network): Election campaigns will generate up to THB120 billion for the Thai economy, the University of the Thai Chamber of Commerce’s Centre for Economic and Business Forecasting said.

“Political parties will go into full gear with campaigning for votes now that the election date has been set,” the centre’s director Thanawat Polvichai said on Wednesday (March 22).

The Election Commission has officially set the general election to be held on May 14.

Thanawat said the THB120 billion generated while campaigning will push Thailand’s GDP up by 4% in the second quarter. He added that Thailand is expected to grow by 3-4% this year.

However, he said rising production costs and inflation can affect the Thai business sector’s profits and liquidity.

“However, we are still confident that the economy will pick up in the second half of this year,” he said.

Thanawat added that the business sector is concerned that the election may spark political conflicts, which may trigger delays in investment.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Thailand , economy , elections


Next In Aseanplus News

Miti to draw up comprehensive strategic semiconductor plan, says PM Anwar
Parents urged to lodge complaints if schools organise outdoor activities in hot weather
Perak drawing up development guidelines at cave, hillside temples
Lahad Datu OCPD's teen daughter found dead from gunshot
12 crew members rescued from Tanzanian burning ship in Singapore waters: MPA
Asean News Headlines at 9pm on Monday (April 16, 2024)
Woman and five children dead after boat capsizes in Indian Kashmir
South China Sea claimants should settle dispute peacefully, says Singapore foreign minister
Malaysian-born TVB star Jacquelin Ch'ng reveals flaws that led to her divorce
Indonesia speeds up purchasing rice from local farmers; move to ensure enough stock during Aidilfitri season

Others Also Read