50-70 bn THB in damage expected from prolonged rally

BANGKOK, 18 April 2010 (NNT) – A 50 -70 billion THB damage is expected from the prolonged mass demonstration of the anti-government United Front of Democracy Against Dictatorship (UDD), according to the estimation made by the Center of Economic and Business Forecast (CEBF) of the University of the Thai Chamber of Commerce.

CEBF Director, Dr Thanawat Polvichai, stated that the estimate was based on the assumption that the prolonged rally would end on 15 May 2010 when UDD core leaders promised to give themselves in to police, and that no further violence occurs during the course.

The director said the UDD had declared its plan to stage another rally on the business road of Silom after the gathering at Ratchaprasong Intersection was successful in pressuring the government to a certain extent.

Dr Thanawat admitted that the rallies would greatly affected the national economy, the confidence of both consumers and investors as well as trade negotiations and tourism.

As for the movement of the People’s Alliance for Democracy (PAD) to stage a mass rally, the director said the group still has no clear direction in its movement and therefore is not worrying.

However, Dr Thanawat cautioned the government to monitor movement of all protesting groups in order to prevent possible clashes between groups of supporters.