PM’s aide warns of critical state of Thai economy | WTAQ News Talk | 97.5 FM · 1360 AM

Thailand is currently facing a critical economic situation, according to the prime minister’s chief of staff. Prommin Lertsuridej, speaking to reporters, emphasized the need for measures to address household debt, boost tourism, and stimulate the economy.

The country’s economic challenges are evident in the concerning figures that Prommin highlighted. Prime Minister Srettha Thavisin’s government is actively working to revive Thailand’s economy, which has been impacted by weak exports and a slower recovery from the pandemic compared to neighboring countries in Southeast Asia. The unexpected contraction in the economy in the fourth quarter of 2023 has led to a downward revision in the growth outlook for this year, increasing pressure on the central bank to consider interest rate cuts.

The annual budget needs to be approved and ready for spending by next month, as it has been delayed since October due to government formation delays last year. The government is making efforts to implement various stimulus measures, such as visa-free tourism and initiatives to address the high household debt level, which stands at 91% of GDP. Prommin stated that these measures are crucial in revitalizing the country’s economy and ensuring sustainable growth in the future.

By Sophia Gonzalez

As a content writer at newsgreg.com, I am dedicated to crafting engaging stories that captivate our readers. With a knack for turning complex topics into accessible and compelling narratives, I weave words together to inform and inspire. My passion lies in delivering accurate and thought-provoking content that keeps our audience informed and entertained. From breaking news stories to in-depth features, I strive to bring a fresh perspective to every piece I create. Join me on this journey of exploration and discovery through the power of words at newsgreg.com.

Leave a Reply