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The Federation of Thai Industries (FTI) is waiting to see the economic team

The Federation of Thai Industries (FTI) is waiting to see the economic team of the new government from the distance as it is confident that the cabinet will be capable of solving economic problems.

FTI Chairperson Payungsak Chartsutipol expressed his belief that the new government will select appropriate figures who are well accepted in the society to perform in the economic ministers’ team because there are urgent issues waiting to be solved, particularly the high cost of living.

Mr Payungsak stated that the private sector does not expect how long the new government’s economic measures will yield a concrete result because he thought that the new government needs time to draft strategies, but he believed that the government’s direction in economic solutions should become clear in one year.

The chairperson added that the FTI will have a meeting today to formulate strategies for urgent problems before submitting them to the new government for further consideration.

Regarding the impact caused by the US economic situation, Mr Payungsak responded that many factors must be monitored, including the exchange rate of the US dollar to see how it will move following the US economic directions.

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