Prime Minister and Minister of Finance Srettha Thavisin said he was committed to driving Thailand forward as a regional economic hub amid global challenges.
In a special remark titled “Thailand: The Era of Change” delivered at Bangkok Post Forum 2023, the Prime Minister said he hoped to move the country away from this difficult time and into new challenges towards becoming a regional economic hub.
Many of his government’s policies will support this goal, including employment promotion campaigns, financial support campaigns for low-income households, and support campaigns for other vulnerable populations. These campaigns will help Thailand achieve its target of narrowing the income gap by 2027.
One of the most highlighted government campaigns of Mr. Srettha’s administration is the Digital Wallet campaign, which promises a 10,000 baht digital allowance for Thai people. The PM said this campaign will help lay down a new foundation for digital finance using blockchain technology.
The PM said his government will be working to promote and facilitate foreign investments, particularly in the high-skilled and high-tech industries.
Campaigns promised by PM Srettha’s administration have raised some questions regarding the government’s fiscal discipline, given the high budget requirements. The Prime Minister said the government is well aware of the importance of balanced fiscal discipline, as it can impact confidence among foreign investors.
The PM said Thailand now has a considerable amount in reserves, with the ratio standing ten times higher than the global standard. This value can reassure that the Thai economy will continue to grow in a robust manner.
Credit ratings company Moody’s has given Thailand a positive rating with a stable outlook. The Prime Minister said Thailand continues to enjoy positive assessments from well-known rating companies, given the country’s records and reputation.
The Prime Minister said that apart from economic matters, health is another important area. Thailand has since 2002 been one of a few countries offering a universal healthcare program, and the government will continue to invest more into this program to improve health services.
The PM concluded that the future of Thailand remains bright, as the country is abundant with resources and skills to grow. The government will do everything it can to allow Thailand to succeed in every possible aspect. (NNT)