Thai Prime Minister Anutin Charnvirakul said on Wednesday he planned to dissolve parliament by the end of January, with a general election to be held in March or early April.

Anutin won a parliamentary vote in early September to become Thailand’s third prime minister since August 2023, after pulling his Bhumjaithai party out of a ruling coalition led by the Pheu Thai party.

To win power, he secured the backing of the largest grouping in parliament, the opposition People’s Party, which put forward a number of demands – including calling elections within four months of taking office – as part of a deal to support the Bhumjaithai leader.

The churn has been taking a toll on Southeast Asia’s second-largest economy. Fitch Ratings on Wednesday revised Thailand’s outlook to “negative” from “stable”, citing increasing risks to public finances amid ongoing political uncertainty.

Anutin faces a tough task to turn around an economy grappling with US tariffs, high household debt and weak consumption.

The government plans measures to tackle economic issues including alleviating the cost of living, and addressing declining farm product prices with support for farmers, he told a news conference on Wednesday.