Thailand’s New PM Draws Criticism Over Economic Policy

Thai Prime Minister Srettha Thavisin came under fire in the Parliament on Monday over a policy agenda that opposition lawmakers called vague and said was short of some of his party’s boldest election pledges.

Srettha who heads a coalition Government that includes some of his party’s most bitter rivals, confirmed his agenda before lawmakers and focused on digital cash handouts, lowering energy prices and relaxing visa rules to boost tourism.

In remarks later in the day, he said his Government aimed for growth of at least 5% annually and would support the economy in the short term by boosting tourism, a vital income earner.

Srettha, who is also Finance Minister, pledged to take a market-led approach to increase income for farmers.

But the biggest party in Parliament, the opposition Move Forward, said the agenda of Srettha’s Pheu Thai party lacked specifics.

“This is aimless. There are no clear goals, no time frame and budget,” said Move Forward Legislator Sirikanya Tansakul, during a marathon debate scheduled to end late on Tuesday.

“The policy statement needs to have details … it should not be a wish-list.”

The new administration adopts an economy that is expected to grow 2.8% this year, below a previous forecast of 3.6%.

REUTERS