P promises quick fixes for the business.
Prime Minister Srettha Thavisin compared the nation to a” sick people” in his first policy speech to parliament yesterday, calling for the government to administer treatments like the 10,000-baht digital cash handout and lower energy prices.
He claimed that the Covid – 19 pandemic had exacerbated Thailand’s long-standing economic, social, and political issues and that it had not yet completely recovered from its consequences.
The government’s goal is to address these problems and lay the groundwork for the land to advance, he said. Poverty and inequality are not only preventing the nation from realizing its full potential, but they have also sparked a crisis in public trust.
Mr. Srettha added that the nation’s economy has also been impacted by the shifting political landscape and the competition among the superpowers in the world. Thailand had therefore effectively position itself to safeguard its interests.
The PM continued,” The country’s economy is particularly fragile, with household debt exceeding 90 % of the gross domestic product and public debt standing at 61 % of GDP this year.”
The government has prepared instant and short-term economic stimulus, such as the 10,000-baht digital currency handout and other procedures intended to reduce farmers’ and small – and medium-sized enterprises’ debt burdens, according to the top, in order to spur growth.
He reassured the government that the measures wouldn’t violate the country’s economic discipline or impair its ability to pay its debts.
In his speech, he defended the government’s decision to periodically waive visa requirements for Taiwanese citizens and expedite visa applications for people hoping to attend international events, saying that the commerce sector is essential to job creation and revenue generation.
According to Mr. Srettha,” Thailand is like a tired person … Tourism and spending are recovering so quietly that there is the risk of monetary recession.”
Additionally, he vowed to lower the cost of energy, cooking oil, and crude while also finding alternative energy sources.
The institution of monarchy and sections related to it would not be revised in Mr. Srettha’s contract act bid, according to another important policy of his government.
He insisted that in order to make sure the contract is political and well-liked by all parties, open suggestions will get sought in the process.
In response, criticism
Sirikanya Tansakul, the deputy leader of the Move Forward Party( MFP ), claimed that the government’s policies lacked clarity and had ambiguous goals, which suggested that there was insufficient confidence in their ability to be carried out.
She questioned the government’s ability to raise money for the modern wallet system, claiming that it might have to borrow money to make up the shortfall. MFP list – MP Woraphop Viriyaroj urged the government to change the digital wallet program so that SMEs may benefit from it rather than large corporations.
Additionally, he urged the government to increase SMEs’ access to loans so they could maintain their competitiveness.
Acting Democrat head Jurin Laksanawisit questioned the policy statement’s decision to omit some election campaign pledges, including a maximum guaranteed income for newly graduated workers and an annual maximum wage rate of 600 baht.
Mr. Jurin likewise urged the government to uphold the rule of law, claiming that this would only occur if the law was applied equally to both the wealthy and the less fortunate.
” If the previous administration made a mistake, your administration may make it right rather than letting it go.” Make set new standards and put people off, he advised.
” Well thought out” digital currency
The first day of the two-day discussion on the government’s plans was devoted to Pheu Thai and his digital pocket program.
The digital wallet commitment was defended by deputy finance minister Julapun Amornvivat, who claimed it wasn’t a populist tactic to entice citizens during the election campaign but rather an intelligent strategy to revitalize the business.
Businesses of all sizes are welcome to participate, he claimed, and the program won’t jeopardize financial discipline.