Thailand to roll out more populist policies this year – PM.

On Monday, Thai Prime Minister Srettha Thavisin announced that his administration would implement new measures before the year’s end to reduce the country’s cost of living.

Srettha and his 11-party government have promised to revive Southeast Asia’s second-biggest economy by suspending debts for farmers, raising minimum wages, and providing handouts to all Thai adults via digital wallets in response to weak demand for Thai exports and low investor confidence.
The country’s economic position is “not so good,” but the premier stated, “we’ve already reduced electricity prices and want to reduce more but it will take several weeks.”

Srettha has set an annual growth objective of 5% despite the economy growing by 2.8% this year.

As for the announcement, he added, “In addition to lowering cost of living is increasing wages,” and that it was likely to come in November.

Srettha, who assumed office last month, addressed various themes at a forum held by Thai media source Thairath, including the effects of El Nio on Thailand’s second harvest of the year and the need to investigate alternative crops.
He mentioned expanding free trade agreements with partner nations and opening new agriculture markets in Africa and the Middle East, focusing on halal products. However, he did not go into specifics.

The opposition in parliament has criticized Srettha, a real estate magnate and relative newcomer to politics, for what they see as aimless ideas. However, the Prime Minister has assured the public that the policies will be economically sound.

According to Shrestha, he will be in New York this week for the UN General Assembly, and the country will continue to take a neutral stand under the current administration.

We enjoy cordial ties with both Beijing and Washington. We can’t take sides. He emphasized that he was not taking a stance.

During his time in the United States, he intends to meet with prominent business leaders to entice them to invest in Thailand.