A year ago today, many Bangkokians and their fellow Thais from the countryside led by Mr Suthep Thaugsuban were protesting against the government of then prime minister Yingluck Shinawatra at the Democracy Monument instead of celebrating the dawn of the new year at some place more appropriate.
Marred by violence which left about 30 protesters and innocent bystanders killed and many hundreds wounded, the protests, which started in November 2013, steadily intensified and threatened to plunge the country into more bloody confrontation. Then they came to a sudden end on May 22 with a military coup, led by Gen Prayut Chan-o-cha.
The prolonged protests have hurt the economy substantially. Tourists turned away from Thailand, and public-sector infrastructure investments stalled as the government became a lame duck, more concerned with surviving on a daily basis than with state affairs. Economically speaking, the demonstrations cost the country a lost opportunity.
The imposition of martial law since May 22 coup has restored peace and order, but it still stands as an impediment against the arrival of tourists because their travel insurance does not cover travel to countries under military rule.
Economically, 2014 was a bad year for Thai exports, the main engine for economic growth, as a result of a global economic slowdown. The Bank of Thailand twice revised growth rate projections downward. The latest forecast suggests the growth rate will be just a dismal 0.8%, down from 1.5%. The bank also projected the growth rate for the new year would be 4% instead of 4.8%, due to a weaker outlook for domestic demand and exports.
The gloomy economic outlook poses an immediate challenge for the Prayut government — besides all the other agenda items that are yet to be implemented or fulfilled, not the least of which are national reforms.
A suggestion emerged last week from a top executive of a giant consumer products manufacturer that the government should give another cash handout to farmers. With increased purchasing power, they could buy consumer goods and help stimulate the economy. Though not a bad idea, the burden of cash giveaways would weigh heavily on the public.
There is a silver lining in every dark cloud, though: the global slump in the price of crude oil since June, which is projected to remain low for most of this year compared to pre-June prices. This represents considerable relief for motorists and commuters on public transport during a difficult economic time. Many of the New Year's gifts presented by the government, such as the mega-discount sale by the private sector, are over by now and replaced with the harsh realities of life: high food prices, for instance.
Another tough year is ahead of us, and the government will need to do more. There is no room for complacency. Ministers will have to work harder to show results; otherwise, their heads must roll, and the prime minister must make sure it happens.
The people too must realise that they need to help themselves first and cannot always rely on handouts from the government. As we all go through a difficult time, we must work together, regardless of political differences, toward a better future for the country and for the next generation. There is always hope.
Happy New Year!