Thailand’s new Prime Minister Paetongtarn Shinawatra has expressed her government’s intention to stimulate the economy “right away” by continuing with the policies of former premier Srettha Thavisin. This decision was made clear during a special cabinet meeting held to prepare policies that will be presented at a 2-day meeting of parliament. The new administration under Paetongtarn aims to tackle issues such as debt restructuring, support for small and medium-sized enterprises, and boosting the agricultural and tourism sectors.
Challenges and Adjustments
While the Prime Minister stated that her government will mainly continue the policies of her predecessor, she also acknowledged the need for some adjustments. Paetongtarn emphasized the importance of continuing the work started by Srettha’s government, particularly in regard to stimulating the economy. However, she did not directly address questions regarding potential adjustments to the government’s flagship digital wallet scheme, which aims to provide financial assistance to 50 million Thais through a smartphone application.
As the youngest daughter of the divisive former premier Thaksin Shinawatra, Paetongtarn faces significant challenges in her new role. Despite not having prior experience serving in government, she must navigate a range of issues from the struggling economy to potential legal challenges similar to the one that led to the dismissal of her predecessor, Srettha. It is worth noting that Paetongtarn is the fourth family member to hold the premiership, with the previous three being removed due to coups or court decisions.
The uncertainty surrounding the economic landscape and the political environment in Thailand adds to the complexity of Prime Minister Paetongtarn’s position. While she has expressed a commitment to continuing key policies and implementing necessary adjustments, the road ahead is filled with challenges. The government’s planned handout plan of 450 billion baht raises questions about the future direction of economic stimulus measures and the effectiveness of existing schemes.
Thailand’s new Prime Minister faces a daunting task in steering the country through turbulent times. With a focus on economic recovery and policy continuity, Paetongtarn Shinawatra must navigate a complex political landscape while seeking to address pressing issues affecting the nation. Only time will tell how successful her administration will be in overcoming these challenges and moving Thailand forward.
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