Thailand’s parliament will convene for the first time since the May election, marking the beginning of government formation by a coalition of pro-democracy parties.
But the military still holds significant power and it remains uncertain how much they are willing to cede.
- Thailand’s parliament is convening for the first time after the May election, marking a potential end to almost a decade of military-backed and pro-royalist rule.
- The appointment of a Speaker and subsequent prime minister election will determine the fate of the coalition government, with uncertainty surrounding the support of the military-appointed Senate.
- The political instability and government formation delay have negatively impacted Thailand’s economy, leading to a significant outflow of foreign funds and a decline in the stock market.
- The military-backed government in Thailand still holds significant power and control, posing challenges to Limjaroenrat’s aspirations for political change.
The new members of the House of Representatives will gather in Bangkok and be addressed by King Maha Vajiralongkorn. The lower chamber will elect the Speaker and two deputies on July 4, with discussions between the Move Forward and Pheu Thai parties expected. The Speaker will set the date for the prime minister election, which will be a test for Move Forward leader Pita Limjaroenrat.
Despite having the support of 312 lawmakers, Pita’s coalition is still short of the 376 votes needed for his win. Pita is also facing a probe by the election body that may lead to his disqualification. The political uncertainty has affected Thailand’s stock market and foreign investments.
The political uncertainty surrounding Pita Limjaroenrat and the coalition government has raised concerns not only within Thailand but also in the international community. Investors are closely watching the developments, as the stability of the government plays a crucial role in attracting foreign investments.
The upcoming prime minister election is expected to be a pivotal moment for Pita and his party. With the need for 376 votes to secure victory, the coalition is still working to gain the necessary support. However, Pita not only faces this challenge but also a probe by the election body that could potentially lead to his disqualification.
The scrutiny faced by Pita and his coalition has undoubtedly impacted Thailand’s stock market, causing fluctuations and triggering a sense of caution among investors. This political uncertainty has hindered the country’s recovery efforts and created challenges for its economic stability.
Thailand, known for its vibrant markets and tourism industry, relies heavily on a stable political environment to attract visitors and stimulate economic growth. The government formation process and the subsequent decisions made will shape the country’s future direction and its ability to bounce back from the impacts of the pandemic.
In the coming weeks, the Speaker will announce the date for the prime minister election, which will be a critical moment for Pita Limjaroenrat and the coalition. The outcome of this election will determine the leadership of Thailand and set the stage for the government’s agenda moving forward.
The journey towards a stable government in Thailand continues, and the decisions made in the coming weeks will have lasting implications for the nation’s political landscape and its economic recovery.