Thai PM Pledges Populist Policies to Boost Economy

[webfact]

Picture courtesy: Thai Rath

 

Thai Prime Minister Paetongtarn Shinawatra has unveiled a series of populist initiatives aimed at invigorating the Thai economy and bolstering governmental support. In a televised address, she outlined strategies focusing on soft loans, affordable housing, and energy cost reductions to address key economic challenges like high household debt and subdued consumer spending.

 

Poised to stimulate the economy, Paetongtarn's measures will include targeted financial assistance for community enterprises and village funds, as well as a uniform rate for urban rail commutes. She has also proposed formalising Thailand's vast informal economy, which reportedly contributes around 49% to the country's gross domestic product, to better protect consumers and generate revenue for the state.

 

"2025 will be a year of realised opportunities and aspirations," the PM declared, underscoring her administration's commitment to delivering tangible results. This approach aims to echo the populist strategies of her father, Thaksin Shinawatra, a former premier renowned for pro-poor, grassroots-focused policies that have historically resonated with Thai voters.

Paetongtarn's ascent as Thailand's youngest prime minister earlier this year followed her predecessor's unexpected removal. With a lineage tied to the influential Shinawatra political dynasty, her tenure is expected to perpetuate the populist legacy, renowned for policies offering direct financial aid and subsidies across various sectors.

 

However, significant hurdles await her government. With household debt soaring to about 89.6% of GDP—totalling approximately 16.3 trillion Thai Baht—it ranks among the highest in Asia, presenting a substantial barrier to sustainable economic growth.

 

Despite these challenges, the prime minister is optimistic about Thailand's economic prospects. She predicts a growth rate exceeding 3% in the last quarter of 2024. Integral to this outlook is the continuation of a significant 450 billion Thai Baht stimulus scheme set to enter its third phase next year.

 

Thus far, approximately 14.5 million citizens have benefited from initial disbursements of 10,000 Thai Baht each, intended to stimulate local economies. Another 4 million recipients are expected by January, with plans extending to over 26.5 million individuals in total, reported Bangkok Post.

 

Paetongtarn's ambitious vision signals a determined effort to revitalise Thailand's economy through these populist measures, intertwining immediate relief with longer-term economic reforms. As she seeks to steer the nation towards prosperity, the coming months may well test the stronger resolve of both her leadership and the policies she champions.

 

-- 2024-12-12

 

 

[Pique Dard]

4 hours ago, webfact said:

Picture courtesy: Thai Rath

 

Thai Prime Minister Paetongtarn Shinawatra has unveiled a series of populist initiatives aimed at invigorating the Thai economy and bolstering governmental support.

 

...by also imposing and increasing various taxes on tourists and ex-pats 🙂

Paetongtarn's ambitious vision signals a determined effort to revitalise Thailand's economy through these populist measures, intertwining immediate relief with longer-term economic reforms.

 

4 hours ago, webfact said:

 

-- 2024-12-12

 

 

 

[cowellandrew]

Let's hope it's the cassava (Tapioca) farmers that get the windfall bonus this time!

 

😂☻🚀🐘

[hotchilli]

11 hours ago, webfact said:

Thai Prime Minister Paetongtarn Shinawatra has unveiled a series of populist initiatives aimed at invigorating the Thai economy and bolstering governmental support.

That's all they've got, populist policies to win short term gains..... here we go again.

Didn't work out to well for Yingluk

[hotchilli]

11 hours ago, webfact said:

Thaksin Shinawatra, a former premier renowned for pro-poor, grassroots-focused policies that have historically resonated with Thai voters

Who are still poor.... scraps are all they ever give, nothing meaningful

[caughtintheact]

Formalizing the informal economy is just another way of saying that the government intends to take total control of the economy and force everyone to get a digitalID, ESG scoring and a programmable Central Bank Digital Currency with the goal of enslaving every citizen, and enforcing it by means of surveillance devices.  Bank of Thailand to Test Programmable Payments in Enhanced Sandbox - Fintech Singapore 

When will Thailand be told by the WEF and the UN to stop eating meat and dairy and start eating bugs? 

People should be out on the streets protesting against these anti-freedom measures before there is no more freedom. 

World Climate Declaration There is no climate emergency

[Thumbs]

House hold debt will be significantly higher than 89.6% large amount of borrowing is with unregulated loan sharks who dont report their lending figures 

[AhFarangJa]

2 hours ago, caughtintheact said:

Formalizing the informal economy is just another way of saying that the government intends to take total control of the economy and force everyone to get a digitalID, ESG scoring and a programmable Central Bank Digital Currency with the goal of enslaving every citizen, and enforcing it by means of surveillance devices.  Bank of Thailand to Test Programmable Payments in Enhanced Sandbox - Fintech Singapore 

When will Thailand be told by the WEF and the UN to stop eating meat and dairy and start eating bugs? 

People should be out on the streets protesting against these anti-freedom measures before there is no more freedom. 

World Climate Declaration There is no climate emergency

I know it may be slightly off topic, but we are in the minority shouting about CDBC & loss of freedoms. Unfortunately, and this is especially true here, many people see qr Codes, and digital payments as too convenient, without realising the implications of where they are being led.

[AhFarangJa]

51 minutes ago, Thumbs said:

House hold debt will be significantly higher than 89.6% large amount of borrowing is with unregulated loan sharks who dont report their lending figures 

As far as our village goes you are spot on. Every week the Wife's shop is visited by some lowlife giving Her a handful of business cards pertaining to easy loans. Once they have gone She throws them in the bin. In the village there are dozens of people we know up to their necks to these sharks, with no way out. I have seen over the last several years that the people are getting poorer, no work, meagre profits on farming, all leading to a rife loan shark environment.

[Kwausie]

It always surprises me that Thais can live on the smell of an oily rag and watch every baht yet will go out and buy new vehicles etc on credit.

[hotchilli]

14 hours ago, webfact said:

With a lineage tied to the influential Shinawatra political dynasty, her tenure is expected to perpetuate the populist legacy, renowned for policies offering direct financial aid and subsidies across various sectors.

Utter garbage.... populist policies are no way to run a sustainable economy.

Give people work, give them a decent salary and the rest will take care of itself.

A population/economy reliant on subsidies and handouts will never grow and is doomed to failure.

This the Shin clan of old, populist policies of buying the uneducated voters support.

[Airalee]

2 hours ago, caughtintheact said:

When will Thailand be told by the WEF and the UN to stop eating meat and dairy and start eating bugs? 

I apologize in advance for not having a link, but in the western (US) news articles (aggregated on sites such as yahoo) that talk about our (westerners) “needs” to start eating protein from bugs (usually in an article talking about some new business raising crickets), Thailand is actually held up as the example and sometimes there is a photo from some night market of the lone seller of bugs with the insinuation being that Thailand is already eating bugs as a source of protein.

[damian]

54 minutes ago, Airalee said:

I apologize in advance for not having a link, but in the western (US) news articles (aggregated on sites such as yahoo) that talk about our (westerners) “needs” to start eating protein from bugs (usually in an article talking about some new business raising crickets), Thailand is actually held up as the example and sometimes there is a photo from some night market of the lone seller of bugs with the insinuation being that Thailand is already eating bugs as a source of protein.

I think they started eating bugs because they were hungry!

 

Oh, and free.

[spidermike007]

This amateur would not know a populist policy if it bit her on the ankle.