Thai PM Paetongtarn opts for continuity in key economic policies

BANGKOK Continuity was a key theme when Thailand's new prime minister Paetongtarn Shinawatra on Sept 12 presented her government's policy proposals before Parliament.

- Tan Hui Yee

In an hour-long speech, she outlined priorities that hewed closely to those of her predecessor Srettha Thavisin, who was booted out by a Constitutional Court ruling on Aug 14.

The speech laid out an economics-heavy agenda of a government keen to burnish its credentials on bread-and-butter issues, and anxious to move past the political upheavals that have dogged Thailand since the May 2023 election.

On top of her list was debt restructuring, which is necessary to tackle household debt that reached 91.3 per cent of gross domestic product in 2023 and is slowing consumption needed to generate growth.

Ms Paetongtarn also reaffirmed her commitment to the previous government's 10,000 baht (S$390) per person digital wallet giveaway.

The scheme is expected to be phased in, with the first tranche given to over 14 million people on social assistance and those with disabilities.

Meanwhile, she also pledged to grow Thailand's soft power and pursue mega projects like the proposed Land Bridge that would connect the Andaman Sea to the Gulf of Thailand, something Mr Srettha promoted strongly to investors during his one year in power.

She also mentioned "entertainment complexes" that could attract concerts and boost tourism.