Thai PM pledges new populist measures to boost support, economy

12/12/2024 16:24

Thai Prime Minister Paetongtarn Shinawatra pledged new populist measures on Thursday in an attempt to shore up support for her government and boost an economy held back by high household debt, tight lending and tepid consumption.



In a televised address on the government's performance during her first three months in office, Paetongtarn said her administration would provide soft loans for community businesses, funds for villages, cheap housing for low-income workers in Bangkok, energy price cuts and a flat rate for urban rail travel.



She added that the government would formalise and regulate underground businesses that accounted for an estimated 49% of Thailand's gross domestic product, a move aimed at protecting consumers and generating government income.



"In 2025, it will be the year of tangible opportunities and hopes. The government will create tangible results to make dreams come true. Policies that are tangible," she said.



Paetongtarn was elected by parliament in August to become Thailand's youngest prime minister, just days after a court's shock removal of party ally Srettha Thavisin.