Economy Academics Call for Cabinet Reshuffle Amid Concerns Over Thailand's Economic Direction

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The Thai government faces mounting criticism from academics over its perceived lack of economic progress, with experts calling for a cabinet reshuffle to unify and strengthen the government’s economic strategies. Aat Pisanwanich, an international economics analyst, argues that the economic ministries, including Finance, Commerce, Agriculture and Cooperatives, and Foreign Affairs, need fresh leadership to improve performance and investor confidence.

 

Aat criticises the Finance Ministry for unclear economic stimulus policies and misaligned trade negotiations with the US, which are leading to investor unease. Similarly, he points out that the Commerce Ministry's handling of goods pricing, particularly palm oil, has been problematic. The ministry must clarify its soybean import plans from the US, as these affect palm oil prices. The Agriculture and Cooperatives Ministry, Aat suggests, should also be involved in setting import standards and participating in trade negotiations with the US.

 

He stresses that Prime Minister Paetongtarn Shinawatra should enhance coordination among coalition parties to improve government efficiency. However, he acknowledges that resolving Thailand's deep-rooted economic issues will be challenging due to external pressures like US protectionist policies.

 

Kiatanantha Lounkaew, an economist at Thammasat University, highlights the uncertainty surrounding a potential reshuffle, questioning whether new ministers would outperform the current ones. He warns that reshuffling purely for political reasons could harm public trust.

 

Kiatanantha criticises past government economic measures for relying heavily on consumer stimulation and borrowing, which may no longer fit the current economic context. He calls for long-term structural reforms aimed at cutting business costs and repositioning Thailand's economic strategy beyond mere stimulation.

 

Both academics underscore the need for a clear, forward-thinking economic vision. Kiatanantha advocates for rehabilitating the economy to ensure resilience, suggesting that this strategy might not be initially popular but would yield substantial benefits over time.

 

The debate underscores a pressing need for decisive government action to address Thailand’s economic challenges through coherent policies and long-term planning, thus restoring public confidence and ensuring sustainable growth.

 

  Adapted by ASEAN Now from Bangkok Post 2025-05-05

 

 

[tomazbodner]

And what's a reshuffle going to achieve? You need new people with new ideas, not reshuffling the same ones.

[Jone500]

I believe the only way to stimulate Thailand’s economy is to grant visa-free entry to countries commonly labeled as 'failed states'—like Sudan, Myanmar, Mali, and various others across Africa. Oh, and let’s not forget to welcome retired folks from the UK whose pensions are currently on ice. A warm Thai beach might just be the cure for frozen assets!