PUBLISHED: 30 Jan 2025 at 04: 52
Thaksin Shinawatra, the former prime minister, pledged to dedicate himself to restoring the country’s economy, which he claims has been really mismanaged, over the next three decades.
In a speech to a group in Chiang Rai’s Phan city, Thaksin outlined the imbalance that the economy is experiencing. He assisted a Pheu Thai applicant in the Feb. 1 local election campaign for votes.
” The market has collapsed global. While people’s incomes vanish, commercial banks ‘ profits rise by 14 % against 3 % GDP growth, showing an economic imbalance caused by past mismanagement”, he said.
He claimed that the current state of the nation’s economy is much worse than it was during the 1997 Asian financial crisis, when the injury was only done to the highest levels of the market.
Thaksin said his daughter, Prime Minister Paetongtarn Shinawatra, has her arms full running the country, but he noted that he was providing aid behind the scenes to help the president’s attempts to revive the business.
He vowed that, in keeping with his promise to do so while serving as the nation’s prime minister, he would devote himself to resolving monetary issues and restoring prosperity over the course of the next three years.
Thailand, according to Thaksin, experienced rapid economic growth and a balanced budget for two straight years, compared to the current state, which has seen years of budget shortfalls and mounting debts.
The government plans to increase agricultural product exports to China, which just agreed to purchase 300, 000 kilograms of tapioca, he said, in an effort to revive the business.
He also pledged to look for ways to raise the prices of other crops, including corn and rubber, by admonishing that there are several ways to pursue raising crop prices, especially for rubber.