12/30/2023 0 Comments Thailand breaking news nowThais handed the progressive, youth-led Move Forward Party 151 seats in the 500-member House of Representatives and Pheu Thai 141 seats. The move marked a reversal of a campaign promise and has disappointed many Thais, who voted overwhelmingly for change after nearly a decade of military rule. The diplomatic tone came after Pheu Thai, which came in second in Thailand’s May 14 general election, allied with several pro-military parties in a successful bid to win backing from the conservative Senate, the upper house of the National Assembly, to form a government. He also addressed campaign pledges to reform the military, a powerful political player that has staged two coups since 2006, by promising “co-development” with the army to end mandatory conscription, reduce an excessive number of generals and ensure transparency in procurement procedures by the Ministry of Defence. The prime minister said the government would also seek to amend the current military-installed constitution through a process that allows for public participation. Long-term goals cited by Srettha include boosting international trade, supporting start-up businesses, investing more in transport infrastructure, improving agricultural production, empowering local governments and increasing access to land ownership. It plans to waive visa fees for visitors from specific countries and improve airports to increase the number of flights landing in Thailand. The government also promises to mitigate rising energy costs and boost tourism, he added. In Monday’s speech, the prime minister also promised to act quickly to relieve debt problems, noting that public debt has risen to more than 60 percent of Thailand’s gross domestic product (GDP) in 2023 while household debt has spiked to over 90 percent of GDP this year. Srettha has previously said the initiative, which critics say may not have a sustainable effect, would cost up to 560 billion baht ($15.8bn) and will be ready to deliver by the first quarter of next year. “The money will be distributed to all areas and create jobs and economic activity, and the government will earn revenue,” he said. The stimulus measures include implementing a campaign promise to hand out 10,000 baht ($280) to all Thais 16 and older. It is necessary to stimulate the economy and spending,” he said. ![]() ![]() “Tourism and spending are recovering so slowly that there is the risk of economic recession. The prime minister described Thailand’s economy – which has slumped after the COVID-19 pandemic all but crippled its lucrative tourism industry – as “a sick person”. His government is facing high expectations and pressing demands to address a range of economic, political and social problems in its four-year term. Keep reading list of 4 items list 1 of 4 Thailand’s food delivery drivers feel pinch as Grab, Line rack up losses list 2 of 4 ‘Russian-only’ businesses in Thailand’s Phuket spark backlash list 3 of 4 Thai king commutes former PM Thaksin’s prison term to one year list 4 of 4 Srettha Thavisin elected Thailand PM as Thaksin returns from exile end of listĪ member of the populist Pheu Thai Party, Srettha entered politics after a career as a real estate developer.
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