Coup played part in stagnant economy, says Abhisit
The stagnant economy was partly due to the coup as it affected the decision of investors who wanted to see certainty, said former prime minister and leader of the Democrat Party Abhisit Vejjajiva.
Several trade negotiations could not take place under the current regime either, he said.
However, the former PM also said the global economy was also an important factor. Uncertainty in the policies of trade partner nations also resulted in the country’s ailing economy, he said.
Most importantly, the people’s incomes were hit, Abhisit said.
Government assistance was mostly in measures that were unsustainable, preventing the economy from recovering, he said.
The junta-initiated Pracharat policy aimed at sustainably boosting the economy was limited, he said. However, he said, most of the people taking part in the scheme were successful businessmen who gave a big-business perspective and lacked understanding of smaller entrepreneurs.
SME people, agriculturists, and freelancers played too small a part in directing the scheme, he said.
Abhisit also expressed concern for the people in rural areas who are still suffering from the slow economy.
The Democrat leader urged the government to create a welfare scheme to assist these people rather than non-permanent measures.
The temporary measures, which depended on decisions made by the powers-that-be, could be turned into another populist scheme, he said.
