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Thai PM pledges new measures to boost economy
The Straits Times
|December 13, 2024
Thai Prime Minister Paetongtarn Shinawatra pledged new populist measures on Dec 12 in an attempt to shore up support for her government and boost an economy held back by high household debt, tight lending and tepid consumption.
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In a televised address on the government's performance during her first three months in office, Ms Paetongtarn said her administration would provide soft loans for community businesses, funds for villages, cheap housing for lower-income workers in Bangkok, energy price cuts and a flat rate for urban rail travel.
She added that the government would formalise and regulate underground businesses that accounted for an estimated 49 per cent of Thailand's gross domestic product (GDP), a move aimed at protecting consumers and generating government income.
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