Thailand's PM Paetongtarn Shinawatra Unveils Economic Stimulus Plan

Thailand's new Prime Minister, Paetongtarn Shinawatra, is set to deliver her administration's policy statement to parliament, focusing on economic stimulus and debt resolution. Key initiatives include debt restructuring, supporting small businesses, reducing energy costs, and promoting mega-projects. The context involves political turmoil and the influence of former PM Thaksin Shinawatra.

Thailand's newly elected Prime Minister, Paetongtarn Shinawatra, will outline her administration's policy statement to parliament on Thursday. The key focus is on stimulating the sluggish economy and addressing persistent debt issues.

The statement outlines several initiatives: restructuring debt, including housing and car loans, and addressing informal debt through collaborations with government and commercial banks, as well as asset management companies. Additionally, it retains the previous administration's digital wallet plan targeting vulnerable groups, although details on implementation and budget remain unspecified.

Other measures include protecting small and midsize enterprises from international competition via e-commerce, reducing energy and utility costs through a strategic petroleum reserve, and joint gas exploration with Cambodia. The government also plans to expand the tax base, legalize certain underground economic activities, promote medical cannabis, and boost agriculture and tourism, with mega-projects like the $30 billion Landbridge project.

This policy statement follows Paetongtarn's recent election amid political unrest, including a Constitutional Court decision removing predecessor Srettha for ethical violations and dissolving the opposition Move Forward party. Many policies align with ideas previously mentioned by Paetongtarn's father, former PM Thaksin Shinawatra, who is viewed as an influential figure behind the scenes.

(With inputs from agencies.)