BANGKOK, Thailand – Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas began his first day in office by paying respects to sacred objects at the Finance Ministry and highlighting the government’s economic strategy of “Quick Recovery, Long-Term Focus.”
Ekniti stressed that the government aims to implement “Quick-big win” policies that deliver fast results while maintaining fiscal discipline. A key initiative is the pilot of “Khon La Khreung Plus” (Half-Half Plus), set to launch in October 2025. The program will allow registered taxpayers to purchase goods with 40% personal payment while the government covers the remainder, encouraging participation in the tax system over time. Non-taxpayers can participate initially, but long-term goals include bringing more people into the tax system.
The program also seeks to empower small vendors, from street hawkers to online sellers, providing training on accounting and cost awareness to improve access to financing. Ekniti emphasized that all economic policies will maintain clear fiscal discipline, transparency, and governance to bolster confidence among international credit rating agencies, particularly following Fitch Ratings’ recent downgrade of Thailand’s outlook to “negative” while maintaining a BBB+ rating.
He added that other measures, such as simplifying business licensing and approvals for utilities, will support targeted industries without additional budgetary burdens, aiming to stimulate investment and strengthen Thailand’s economic competitiveness. (TNA)
