— This is the script of CNBC's news report for China's CCTV on May 27, Tuesday.
Welcome to the CNBC Business Daily.
Thailand's military leader, Prayuth Chan-ocha, received a Royal endorsement as leader of the new council governing the country.
He's set no time frame for new elections but warned against further protests and unrest.
With the military vowing keep a tight grip on protestors...
How much of a hit will the Thai economy take from these months of turmoil?
[MILTON OSBORNE / Nonresident Fellow, Lowy Institute for International Policy] "In the immediate future, the fact that the situation could be less full of unrest than it was before could be important for the economy."
[VIKTOR SHVETS / Head of Strategy Research, Asia, Macquarie] "Part of the reasons why the Thai market is not falling is that investors effectively are expecting a goldilocks outcome. They expect that the new government, at some stage, will be sworn in.. Some stability returns.. And GDP growth rates return. I think it's very very optimistic."
The National Council for Peace and Order also began issuing rice subsidy payments owed to Thai farmers...
Saying it would borrow $1.5 billion to meet the $2.7 billion owed.
Rulers say rice subsidy payments are likely to boost GDP by 0.2% this year... with expectations of 3% GDP growth in 2014.
[KHOON GOH / Senior FX Strategist, ANZ] "The positive is that at least with the military in charge the rice farmers are finally getting paid they're owed from the rice subsidy. So that would help support rural consumption to some extent. But I don't think that's enough to offset a decline in tourism, a decline in private investment."
[VIKTOR SHVETS / Head of Strategy Research, Asia at Macquarie] "I don't think GDP estimates of 2 to 3 % for this year or next year are likely. I think at best, Thailand can do 1%."
And this analyst says weak consumer spending remains a key concern for some Thai companies.
[NIRGUNAN TIRUCHELVAM / Director, ASEAN Consumer, Standard Chartered Bank] "I think the best way to summarize is 'Short term pain, long term gain.' It is correct that there are a number of factors in the economy we suggest that the consumer sector is under threat. However, the long term prospects for consumer growth in Thailand are very sound. And there are certain counters that may be attractive. There are certain risks that the investors must focus on, like the level of leverage."
The government plans to unveil its economic roadmap next week...
But said it would come up with a new budget in time for the October 1st new fiscal year.
It also said corporate, income and value added tax rate cuts will continue for another year.
That wraps up this edition of the Business Daily.
I'm Sri Jegarajah, reporting from CNBC's Asian headquarters
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