BANGKOK, Sept 2 (TNA) - The general election tentatively set for December 23 will benefit Thailand's economy, on the condition that the current or new government explores fresh means to further drive the economy, according to a leading economist.
Phatra Securities Research Group president Supavut Saicheu said he is confident that the election would benefit the country's overall economy, including local consumer activity, and local and foreign investors' confidence.
But the success would hinge on the fairness of the election, and the image of the new government and its policies, he said.
"Most of the policies initiated by previous governments were not implemented seriously and eroded investor confidence," said Mr. Supavut. "The government must clearly specify if the policies are meant for the long-term as they could build confidence, but it's too soon to assess the (new) government now because we don't know what parties will form it."
He said Phatra Securities had not yet revised its projection for Thai economic growth, but previously it believed growth this year would be around 3.7 per cent. The company is monitoring the current global economy which is still volatile due to worries over US sub-prime lending problem which is expected to continue for the next few months.
On the other hand, Thailand is now encountering slower growth in its exports and other measures are needed to solve this problem, Mr. Supavut said. It is a challenge for the present and the new elected government.