Thailand's New Government Unveils Economic Stimulus Plan

Thailand's new government, led by Prime Minister Paetongtarn Shinawatra, laid out its plans to stimulate the economy. Key points include debt restructuring, digital wallet handouts, protecting SMEs, reducing energy costs, legalizing underground economic activities, expanding the tax base, and promoting agriculture, tourism, and transport projects.

Thailand's new government, under the leadership of Prime Minister Paetongtarn Shinawatra, has unveiled its policy statement with a clear focus on economic stimulation. Paetongtarn, who addressed parliament, emphasized the continuation of her predecessor Srettha Thavisin's policies while introducing robust measures to tackle the nation's economic challenges.

Among the key policies are debt restructuring initiatives for housing and car loans, as well as addressing informal debts through collaboration with government and commercial banks. The government also plans to maintain the digital wallet scheme, which aims to provide 10,000 baht ($300) to 50 million Thai citizens to boost the economy.

Further measures include protecting small and medium enterprises from international competition, reducing public energy and utility costs, exploring new natural gas sources with Cambodia, legalizing underground economic activities for revenue generation, expanding the tax base, and promoting major transport projects like the $30 billion Landbridge project.

(With inputs from agencies.)