Hello and welcome to the details of Thai PM Paetongtarn to table govt policy proposal today, including RM58b handout plan and now with the details
Nevin Al Sukari - Sana'a - Thailand's Prime Minister Paetongtarn Shinawatra delivers her government's policy proposal to parliament at the Parliament in Bangkok, Thailand, September 12, 2024. — Reuters pic
BANGKOK, Sept 12 — Thailand's Prime Minister Paetongtarn Shinawatra will today deliver her government's policy proposal to parliament, headlined by plans to give away 450 billion baht (RM58 billion) in handouts to jumpstart growth.
Political newcomer Paetongtarn's cabinet was sworn in earlier this month after she won the backing of parliament to become Thailand's youngest premier following the shock removal of predecessor Srettha Thavisin by a court decision.
The polices largely continue ally Srettha's agenda and that of their populist Pheu Thai party, including debt restructuring and legalising casinos to draw in investment and more tourists.
The government is expected to give details of its signature plan for its 'digital wallet' handout of 10,000 baht ($300) to 50 million people, some of which Paetongtarn now says will be given in cash.
The scheme has been criticised by economists and former central bank governors as fiscally irresponsible, which the government rejects. It has struggled to find sources of funding.
It insists the policy is necessary to energise the economy, which the central bank expects to grow just 2.6 per cent this year, up from 1.9 per cent in 2023 but far adrift of most regional peers.
Paetongtarn, 38, is making her debut appearance in parliament as Thailand's second female prime minister. She is the fourth member of her family to hold the top job.
Among those was her father, the billionaire Thaksin Shinawatra, Thailand's most influential and divisive politician over the past two decades, who has backed the stimulus plan and is a key figure behind her Pheu Thai party. — Reuters
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