Bangkok (Business Emerge), August 14: Thailand’s Constitutional Court has removed Prime Minister Srettha Thavisin from office, citing a serious breach of ethical standards. The decision, made by a narrow 5-4 margin, is a significant blow to Srettha, who served less than a year in power. This ruling marks him as the fourth Thai leader in the past 16 years to be ousted by the court.
Srettha’s dismissal comes after he appointed a minister with a criminal record, a move deemed unethical by the court. The ruling has sparked concerns about further political instability in Thailand, a nation already familiar with turmoil. Parliament must now convene to select a new premier, heightening the uncertainty in a country that has faced two decades of coups and judicial interventions, which have repeatedly toppled governments.
The timing of this decision is particularly delicate, as Thailand’s economy is struggling to gain momentum. The nation faces challenges such as weak exports, sluggish consumer spending, and soaring household debt. Over a million small businesses are grappling with limited access to loans, while the government’s growth forecast for 2024 remains at a modest 2.7%, placing Thailand behind its regional peers. This year, the Thai stock market has been Asia’s poorest performer, with the main index showing a significant decline.
The Constitutional Court’s role in Thai politics has been crucial, with last week’s dissolution of the anti-establishment Move Forward Party serving as a recent example. The party’s campaign to reform laws related to the monarchy was deemed a threat to the constitutional framework, leading to its disbandment. Despite these setbacks, Move Forward’s remaining members have already regrouped under a new political banner.
The ousting of Srettha Thavisin adds to the long list of challenges faced by his Pheu Thai Party, which has historically borne the brunt of Thailand’s political upheaval. The party, associated with the Shinawatra family, has seen two of its previous governments removed by military coups, further deepening the ongoing power struggle between its founders and the royalist military.
As Thailand stands at the crossroads of political and economic challenges, the dismissal of Srettha Thavisin signals a potential shift in the nation’s governance and the prospect of continued unrest.