Thailand’s PM Paetongtarn Promises Immediate Economic Stimulus, Reports Reuters

BANGKOK (Reuters) – Thailand’s Prime Minister Paetongtarn Shinawatra announced on Saturday that her new government will prioritize immediate economic stimulation and will carry on with the policies established by former Prime Minister Srettha Thavisin.

Earlier in the day, she convened a special cabinet meeting to prepare policies to be presented during a two-day parliamentary meeting scheduled for Thursday and Friday, which will mark the official start of her administration.

Paetongtarn was elected prime minister by the House of Representatives last month, following the unexpected removal of Srettha by a court due to ethical violations.

She stated that her administration will primarily uphold her predecessor’s policies, with some modifications. Key areas of focus include debt restructuring, supporting small and medium-sized enterprises, and enhancing the agricultural and tourism sectors.

“Our work will continue from Srettha’s government, particularly in stimulating the economy,” Paetongtarn said during her first press conference since her cabinet was sworn in by King Maha Vajiralongkorn the previous day.

When asked about potential changes to the government’s primary digital wallet initiative and its implementation timeline, she did not provide a direct response. The program aims to distribute 10,000 baht (approximately $295) to 50 million Thais through a smartphone application.

Paetongtarn indicated this week that part of the government’s 450 billion baht (around $13.4 billion) handout plan would be issued in cash, suggesting that the digital wallet scheme may undergo adjustments, though specifics were not disclosed.

As the youngest daughter of the contentious former Prime Minister Thaksin Shinawatra, Paetongtarn is entering government for the first time and will face numerous challenges, including a struggling economy and potential legal issues reminiscent of those that resulted in Srettha’s dismissal.

She is the fourth member of her family to assume the premiership, following three others who were removed from office through coups or court rulings.