Coalition parties tense as economy falters

Thai politics has not reached a dead end, but mounting pressure from a sluggish economy is likely to affect the future of the two main coalition parties — Pheu Thai and Bhumjaithai — according to a scholar on political economy.

- WICHIT CHANTANUSORNSIRI

Kiatanantha Lounkaew, a professor in the economics faculty at Thammasat University, said that while there are internal fractures within the government, particularly between these two parties, they share a mutual interest in maintaining their status as the ruling coalition.

“Both parties are aware that if the House was dissolved today, their chances of returning to power would be slim, and both would suffer losses. Given this outlook, I believe they will find a way out,” he said.

However, whether the country is at a dead end is another issue, said Mr Kiatanantha, adding that if the political fighting continues, with only two years left of this government's term, without any tangible positive economic changes it could eventually lead to a dead end for both coalition parties.

“So far, there has not been any concrete progress from the government. If nothing is done, public confidence in the government will decline — affecting both the Pheu Thai Party and Bhumjaithai, which holds the Interior Ministry, which has a significant impact on people's lives,” he said.

The government's economic managers must deal with the changing global context, noting that 70% of the Thai economy relies on exports.