In a surprising turn of events, Srettha Thavisin, Thailand's prime minister, was removed from office by a court order on August 14, 2024, less than a year after his appointment. This development has plunged Southeast Asia's second-largest economy into political uncertainty.
Srettha, a 62-year-old former property executive, entered politics shortly before the May 2023 election as a prime ministerial candidate for the populist Pheu Thai party. Despite his party finishing second in the polls, he managed to form a coalition government after the election-winning Move Forward party was blocked by military-appointed lawmakers.
During his brief tenure, Srettha faced numerous challenges. A June 2024 survey by the National Institute of Development Administration revealed that only 12.85% of respondents supported his leadership, a significant drop from 22.35% in December 2023. His government's flagship "digital wallet" scheme, which aimed to provide financial assistance to 50 million Thais, faced repeated delays.
Thailand's economy, still recovering from the COVID-19 pandemic, has struggled to gain momentum. The Finance Ministry projects a growth rate of only 2.7% for 2024, relying on recovering tourist arrivals and exports. The industrial sector has also faced difficulties, with the sentiment index falling to a two-year low in June 2024.
Srettha's frequent international trips, aimed at attracting foreign investment, drew criticism. Thailand, once a prime destination for foreign capital, now faces increasing competition from countries like India and Vietnam.
The final blow to Srettha's premiership came after a controversial cabinet reshuffle in late April 2024. The appointment of Pichit Chuenban, a former lawyer for the politically influential Shinawatra family, led to complaints from conservative senators. The constitutional court ultimately upheld these complaints, effectively ending Srettha's term.
This rapid rise and fall of Thailand's prime minister highlights the complex political landscape in the country of 66 million people. As Thailand grapples with economic challenges and regional competition, the nation faces an uncertain future in the wake of this political upheaval.
"It takes some time."
This statement, made shortly before the court's decision, referred to the expected results of government measures to support the economy. However, time has run out for Srettha Thavisin's administration, leaving Thailand at a critical juncture as it seeks to navigate both political and economic challenges in an increasingly competitive Southeast Asian landscape.