Businesses have awarded the Democrat-led coalition government a passing score for its performance over the past six months. However, the government faced criticism for its policy of raising excise tax on fuel and its inability to resolve political differences and address tight financial and credit liquidity for the private sector, as revealed by a survey conducted by the University of the Thai Chamber of Commerce (UTCC).
The coalition achieved a score of 6.4 out of 10 for its performance during its first six months in office, stated Thanavath Phonvichai, a UTCC economist. While the passing grade indicates some level of satisfaction among businesses, the survey highlighted areas that need improvement. The government’s decision to raise excise tax on fuel has been met with disapproval, as it can negatively affect businesses and the economy.
Moreover, the survey respondents expressed concerns over the government’s inability to settle political differences, which can hinder policymaking and create uncertainty for businesses. The government’s performance in addressing tight financial and credit liquidity for the private sector was also criticized, as it is crucial for businesses to have access to sufficient funds to maintain operations and invest in growth.
The survey encompassed 800 participants who were interviewed between July 31 and August 3. The results shed light on the government’s performance and the expectations of the business community. As the government moves forward, it may need to reassess its policies and focus on addressing the concerns raised by the survey participants in order to improve its overall performance and foster a better business environment.