The country would suffer at least a $1.5 billion hit to its economy because of the more than two months of violent protests, the Thai Finance Ministry has said.

The estimate came as Prime Minister Abhisit Vejjajiva called for a national reconciliation.

Abhisit said, "We recognize that, as we move ahead, there are huge challenges ahead of us, particularly the challenge of overcoming the divisions that have occurred in this country." He added he was beginning "an independent investigation of all the events that have taken place during the protest."

It has been reported that at least 80 people, mostly civilians, died and hundreds were injured during the protests in which the Red Shirt demonstrators of the National United Front of Democracy Against Dictatorship called for Abhisit's ouster and new elections.

The New York Times reports analysts, scholars and business leaders were trying to assess both the immediate and long-term potential economic impact of the mass unrest.

Frederic Neumann, head of Asian economic research for HSBC in Hong Kong, told the Times, "Thailand has a history of political tensions. But we've never seen them escalate to this level, with department stores burning."

Bangkok was mostly calm Saturday and a state of emergency remained in effect. Security forces patrolled the main commercial district, where the demonstrations ended this week when troops stormed the protesters' encampment. Downtown businesses were shuttered, and public transportation was scarce, The Times further said.

The Times also noted that Tourism, which accounts for about 6 percent of gross domestic product, has already been hit hard. The industry had rebounded quickly from civil unrest, the SARS crisis of 2003 and the tsunami in 2004. Experts have already said that reviving the economy after the latest violent protests would require political stability. (With Inputs from Agencies)