THE SWIRLING political storm over leaked audio clip of a phone call that Prime Minister Paetongtarn Shinawatra made to Cambodian Senate President Hun Sen may lead to the Thai economy collapsing, TV Channel 7 quoted Mr. Poj Aramwattananon, chairman of the Thai Chamber of Commerce, as saying this evening (June 19).
Thailand is currently in a very high-risk situation because this incident occurred at a time the country is already in the midst of an economic storm being affected by geopolitical conflicts, US tariff hike and the Israel-Iran conflict raging with ongoing aerial strikes.
Meanwhile the Thai tourism sector has not yet recovered while the government budget is insufficient mounting additional 150 billion baht public debt. The capital market is also not doing well and is considered risky in all aspects, he said.
To make matters worse this incident has eroded confidence and more so than this is that the private sector does not know which direction politics will take.
It is therefore imperative that the problem over the leaked audio clip be resolved as soon as possible, Poj said.
If Prime Minister Paetongtarn Shinawatra resigns there will be a disruption in the administration of the country and tariff negotiations with the US, which are currently at a crucial moment.
However, if the government chooses to dissolve the House of Representatives, at least there will still be an acting prime minister and cabinet, allowing the country to move forward for another two to three months.
Meanwhile Mr. Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, said the leaked phone call had increased the risk to the Thai economy which was already affected by the Israel-Iran conflict and the border tension with Cambodia.
It could affect confidence in the country and drag the economy below the target, he added.
The Thai stock market moved in the negative territory all day with the SET Index closing at 1,068.73 points, a decrease of 25.85 points or 2.36% with a trading value of 46.63 billion baht, Khaohoon International said.
Service, media, transportation and logistics sectors slipped the most with the SET Index continuing to slide from yesterday due to selling pressure stemming from political uncertainty.
CAPTION:
Top and Front Page: Thai Prime Minister Paetongtarn Shinawatra, left, and Cambodian Senate President Hun Sen, right. Photo: Amarin TV
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