Finance Minister Chalongphob Sussangkarn on Tuesday conceded the country’s economic conditions had been affected by looming political tensions.
Speaking of the volatility of securities trading on the Stock Exchange of Thailand upon rumours about the possible counter coup, he said the cabinet did not discuss the political development, particularly the counter coup, in its meeting.
He said investors must consider thoroughly whether the fluctuation of the stock market stemmed from internal or external factors.
In the past week, the stock markets in the region including SET had been volatile since the 10-year bond rate in the United States climbed up by 5 per cent for the first time.
“However, I admit the economic conditions will be affected if politics remain uncertain.
“The political party dissolution and the freeze in assets of deposed prime minister Thaksin Shinawatra and his wife have not yet ended the political uncertainties. We need to wait and see the situation after the general election. Unless the problems turn violent, it will help restore confidence in the society,” he said.
Mr. Chalongphob said the Finance Ministry had attempted to supervise the economy to ensure its steady growth.
It had come up with measures to drive the economic growth and boost investment in mega-projects, which would from now on play an active role in stimulating the economy, he added.
Source: Bangkok Post
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