Thailand

PTP forms coalition government


Published

At a press conference yesterday the incoming new prime minister, Yingluck Shinawatra, of the Pheu Thai Party (PTP) announced that four parties had agreed to join them in a coalition government.

Although the PTP have a clear majority by themselves they are keen to build a strong presence in parliament. The four parties are Chartthaipattana (19 seats), Chart Pattana Puea Pandin (7 seats), Phalang Chon Party (7 seats) and Mahachon (1 seat).

Ms Shinawatra made it clear that the third largest party in the new parliament, the Bhumjaithai Party would not be invited to join the coalition.

As yet no cabinet posts have been allocated, but each of the coalition parties will receive at least one ministerial portfolio.

Although the electoral commission has thirty days in which to pronounce on official results, they have said that the work will be completed by 12th July.

The outgoing defence minister Prawit Wongsuwon said that he had spoken to the army and that they accepted the outcome of the election.

And in a good sign for the country and trade, the Thai stock market did well, rising 5% with foreign investors buying 10.7 billion baht in value. However, this is likely to be a temporary stage as early euphoria over a potentially stable government settles down and stock markets get back to normal.

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