BANGKOK, 28 April 2014 – Rangsit University’s Economic Faculty Dean Anusorn Thammajai revealed that the prolonged political crisis has posted an ever-increasing economic downgrade prospect, saying the Thai economy in the second half of this year would likely expand at the rate of 0.25-2.25%, or growing 0.5-1.5% on a year-on-year basis after a zero growth in the first half was recorded.
The dean said political factors had already cost the nation more than 500 billion baht worth of damages in terms of opportunity loss.
He suggested that the Election Commission (EC) hold a new round of general elections as soon as possible while pushing forward with the political reform. He urged related organizations to draw up a social contract for the reform while establishing an elected reform committee to monitor the process.
Mr. Anusorn also called for the use of digital technology to elevate the nation’s competitiveness and to assist in the election process in order to ensure fairness and deal with attempts to block the election.