Economy Thai Citizens Demand Government Action as Inflation Skyrockets

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File photo courtesy of Bloomberg

 

Inflation is hitting Thai wallets hard, raising urgent calls for the government to act. A survey by the National Statistical Office reveals that a whopping 86% of people want immediate intervention to curb rising consumer prices.

 

As the Paetongtarn Shinawatra administration hits the six-month mark, financial strains from household expenses are mounting.

 

Rising costs of living have set alarm bells ringing, with 67% of people in the survey supporting government subsidies on utilities and fuel as a necessary relief mechanism.

 

Meanwhile, other concerns simmer in the background, with 43% calling for more action on drug issues and 35% worried about household debt. The government is urged to face these issues head-on to ease the burden on Thai citizens.

 

Television remains the top source of news for 68% of respondents, while 59% turn to online platforms like Facebook and TikTok. The survey also uncovered interesting views on government policy satisfaction, the popular 30-baht universal health insurance programme is backed by 71% of those surveyed. There's also strong support for other initiatives like economic stimulus handouts and marriage equality legislation.

 

Regionally, satisfaction with government performance varies, with the Northeast leading at 40% approval, while Bangkok lags behind at 14%. In public services, electricity provision comes out on top, delighting 66% of survey participants, followed closely by water supply and road improvements.

 

However, opinions on tourism support remain lukewarm with 30% approving government efforts.

In a related economic twist, the Thai banking sector is gearing up for a potential interest rate cut.

 

The Bank of Thailand's Monetary Policy Committee is expected to lower the key policy rate from 2% to 1.75% by the end of April. This anticipated move is seen as a reaction to sluggish growth due to international pressures like rising US tariffs and a slump in tourism primarily from China and South Korea.

 

The situation underscores the urgent need for the government to stabilise the economy and foster domestic recovery amidst turbulent global conditions. Thai citizens eagerly await decisive actions that will revive their economic prospects and restore confidence in the nation's fiscal future.

 

 

  Adapted by ASEAN Now from The Thaiger 2025-05-07