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PUBLISHED: 4 September 2023 at 4:30
Academics said at a conference held yesterday by the Thai Journalists’ Association that the government may strengthen the nation’s short-term economic progress by implementing condition welfare policies to lessen social inequalities.
Top educational Nonarit Bisonyabut of the Thailand Development Research Institute stated yesterday that the Srettha Thavisin administration will face difficult obstacles as it tries to restart the economy in the wake of Covid-19.
He urged the government to reconsider its plan to give out 10,000-baht electric cash giveaways to all Thais 16 and older, claiming that doing so runs the risk of raising prices. The scheme has a lot of public support, despite the fact that it causes some economists to worry.
Instead, Mr. Nonarit urged the government to allocate funds for additional security initiatives that would more effectively address the root causes of national imbalances.
Tanit Sorat, the vice chair of the Employers’ Confederation of Thai Trade and Industry, asserted that Mr. Srettha has the necessary qualifications to guide the nation out of its protracted economic downturn.
But, Mr. Tanit asserted that Mr Srettha must begin concentrating on monetary matters because under the previous administration, which took office after the 2014 coup, the nation gave security affairs far too much attention.
Mr. Tanit predicted that the government would face a challenge in finding quick-fix solutions to the country’s most pressing problems, which include slow progress, skyrocketing household debt, and declining exports.
The government does offer businesses until May of next year to cooperate with the 25, 000 ringgit least wage for university graduates, he urged, adding that it should reevaluate its decision to increase the normal maximum wage to 600 Baht.
” The government should improve labor skills and provide workers with proper welfare ,” he said, in order to stimulate the economy.
According to Kiatanantha Lounkaew, a teacher at Thammasat University’s Faculty of Economics, the government may enhance training to meet business demands.
In an effort to increase the ability of Thai staff, Mr. Kiatanantha urged the government to revolution the education field.