Thailand's New Premier Pledges Economic Revival

Thailand's new Prime Minister, Paetongtarn Shinawatra, aims to stimulate the economy immediately while continuing the policies of her predecessor, Srettha Thavisin. Elected after Srettha's removal for ethical violations, Paetongtarn plans to address debt restructuring, support SMEs, and boost agriculture and tourism, amid challenges including a new digital wallet scheme.

Thailand's Prime Minister Paetongtarn Shinawatra announced on Saturday that her new government would take immediate steps to stimulate the economy and maintain the policies of former premier Srettha Thavisin. She held a special cabinet meeting to prepare policies for a crucial two-day parliamentary meeting marking her administration's formal beginning.

Paetongtarn, elected last month following the abrupt removal of Srettha by a court for ethical breaches, emphasized that her administration would largely follow her predecessor's approach, with tweaks in areas such as debt restructuring, SME support, and the agriculture and tourism sectors.

In her first press conference since being sworn in by King Maha Vajiralongkorn, Paetongtarn highlighted the continuity of economic stimulation efforts. She did not specify potential changes to the government's digital wallet scheme, designed to distribute 10,000 baht ($295) to 50 million Thais via a smartphone app. Part of the 450 billion baht ($13.4 billion) plan, she suggested, might be handed out in cash. Paetongtarn, the youngest daughter of controversial ex-premier Thaksin Shinawatra, enters office facing numerous challenges, including a struggling economy and potential legal hurdles.

(With inputs from agencies.)