Thai PM Paetongtarn Shinawatra's Bold Moves to Revitalize Economy

Thai Prime Minister Paetongtarn Shinawatra announced new populist measures to boost Thailand's economy, addressing high household debt and limited consumption. She plans soft loans, cheap housing, energy price cuts, and a regulated economy. Paetongtarn aims to follow her father's populist legacy amidst economic challenges.

Thai Prime Minister Paetongtarn Shinawatra unveiled fresh populist policies to rejuvenate the economy, hindered by substantial household debt and sluggish consumption. These initiatives include offering soft loans for community businesses, affordable housing for low-income workers in Bangkok, slashing energy prices, and implementing a flat rate for urban rail travel.

In a recent address, Shinawatra also highlighted plans to regulate underground businesses that contribute significantly to Thailand's GDP, aiming to safeguard consumers and increase government revenue. With promises of tangible opportunities and hopeful policies by 2025, she aspires to foster economic growth and cater to the nation's needs.

Carrying forward her influential father's populist vision, Paetongtarn tackles economic trials, including an 89.6% household debt-to-GDP ratio. Her administration anticipates economic growth to exceed 3% in late 2024, with continued implementation of a $14 billion handout scheme to support millions of Thai citizens.

(With inputs from agencies.)