MFP stands firm on S112 amendment: Fresh vote for PM to be held Wednesday. The Move Forward Party (MFP) has insisted that it will not back down from its plan to amend Section 112 of the Criminal Code, also known as the lese majeste law, saying the party does not want to fall into a trap laid by the senators. Bangkok Post
Senators blame MFP for campaign of abuse: Senators hit back at supporters of the Move Forward Party (MFP) who have launched a “witch hunt” on social media against them after its leader Pita Limjaroenrat failed to secure enough support in parliament to become the new prime minister on Thursday. Bangkok Post
The eight-party prospective coalition has agreed to nominate MFP’s Pita as PM in the 2nd round of voting tomorrow, amid growing doubts about his renomination.
Srettha Thavisin, one of the Pheu Thai Party’s 3 PM candidates, has declared himself ready to become PM if he wins the trust of his party to take on the top job.
Tourism revenue from the international market in 2024 will not be able to match the level recorded in 2019, as the target has been downgraded to Bt1.92tn from an earlier target of Bt2.29tn due to the impact of a “polycrisis”, the Tourism Authority of Thailand (TAT).
BOT calls for stable policies: Stable fiscal and monetary policies are required to grow the economy sustainably, according to the BoT. Public confidence is more important than the new face of the upcoming coalition government and the new prime minister, while policy normalisation and the stability of fiscal and monetary policies are still required from the new government rather than economic stimulus, according to the governor of the Bank of Thailand. Bangkok Post
UTCC anticipates exports contracting by up to 2.5%: Exports this year are likely to contract by between 1.2% and 2.5%, the lowest level in three years, according to the latest forecast by the University of the Thai Chamber of Commerce (UTCC). Aat Pisanwanich, director of the Center for International Trade Studies at the UTCC, said the country still has to brace for plenty of risk factors in the remaining months of the year, with the critical factors to monitor including uncertainty from the delayed formation of the new government, global economic conditions, fluctuating exchange rates, China’s lower than expected GDP growth, higher unemployment rates in trading partner countries and foreign exchange volatility due to the US Federal Reserve’s high interest rate policy and rising trend. Bangkok Post
15m foreign visitors arrive by mid-year: Thailand has welcomed 15 million international arrivals within the first seven months of this year, according to deputy government spokesperson Rachada Dhnadirek. Bangkok Post
BoT okays 3 virtual bank licences: Licensing rules to be finalised this month. The Bank of Thailand has decided to grant only three virtual bank licences in the first round. The number is suitable to ensure stability of the Thai financial market and protect depositors from any risk of the new banking business, according to the governor of the central bank. Bangkok Post
Loan guarantees spike in first half: The state-owned Thai Credit Guarantee Corporation (TCG) yesterday announced its performance during the first six months of this year, with the agency guaranteeing loans for small and medium-sized enterprises (SMEs) worth 67.9 billion baht, representing 72% of its annual target. Bangkok Post
