Protests demanding the resignation of Prime Minister Prayuth Chan-ocha and curbs on powers of the monarchy have compounded Thailand's woes in recent months after the coronavirus pandemic ravaged its tourism-reliant economy.
They warned that protracted political protests could further exacerbate the country's tourism sector and that the foreign sell-off in Thai stocks may be higher than usual due to the political worries. Uncertainty over whether U.S. lawmakers can agree on a fiscal package before the Nov. 3 election has weighed on sentiment recently.
Jennifer Lomboy, a fixed income fund manager at First Metro Asset Management, said Congress' timely passage of the budget gives the Senate a two week head start to study the bill before sessions resume in November and reduces the chance of a re-enacted budget.