Thailand’s new Prime Minister Srettha Thavisin. (Photo: AP) Bangkok (VNA) - Thailand’s new Prime Minister Srettha Thavisin vowed to actquickly to relieve the country's economic problems in his four-year term in hisinaugural speech to the parliament on September 11.
Hesaid the national economy was fragile due to the high household debt and public debt, which nowexceeded 90% and 61% of gross domestic product (GDP), respectively. Thailand’spost-pandemic economy is like “a sick person,” with a sluggish recovery thatputs the nation at risk of entering a recession. He vowed toquickly take measures to relieve debt problems, mitigate rising energy costsand boost tourism.
He said thegovernment will work immediately to implement a campaign promise — 10,000 THB (280 USD) handout for all Thais 16 and older to stimulate the economy byboosting short-term spending.
The government will also solve debt problems of farmers, thegeneral public, small and medium-sized enterprises and other groups.Solutions for farmers would include a debt moratorium.
The PM promised these solutions would neitherbreach financial discipline nor ruin repayment awareness.
In addition, the PM said, the government wouldreduce the prices of oil, cooking gas and electricity, and find more sources ofenergy.
Another immediate economic solution focuses on tourismpromotion, which will generate income and create jobs, he said.
The government will waive visa fees for visitors fromspecified countries and fastrack visas for participants in internationalevents, while promoting international events and improveairports to serve more flights, Srettha said./.
