Censure debate: Prayut defends govt’s economic moves, insists country strong, stable

During the censure debate on Thursday, Prime Minister Prayut Chan-o-cha rejected allegations that his government had allowed the country’s economy to collapse. The opposition also accused his government of failing to secure people’s well-being and allowing Thailand to fall behind other Asean countries economically.

“Compared to other Asean countries, Thailand’s GDP is the second highest after Singapore, with per capita income ranking in the fourth place despite suffering from the Covid-19 fallout,” Prayut said. “The International Monetary Fund estimates that this year Thailand’s GDP will expand by 3.3 per cent, in line with the National Economic and Social Development Council’s forecast.

“Plus, our unemployment rate is the lowest in Asean. Thanks to balanced economic administration by the government, Thailand will never experience a crisis like Sri Lanka has,” the premier insisted.

“Thailand still has a high international reserve and low foreign debts, and can therefore withstand economic fluctuations. The government has also been working to attract foreign investments to strengthen our economy.”

In response to allegations that his government has done nothing but borrow money, Prayut said the authorities have already set up a plan to repay all loans and ensure the economy can continue growing smoothly.

“Many businesses shut down due to the economic crisis. But the government has called on the Labour Ministry to provide training and support for both workers and entrepreneurs,” Prayut said. “I have never said this government is the best, but we do the best we can to solve problems as quickly as possible.”

The premier added that through its eight years of administration, this government has achieved a record 179 projects worth over 2.66 trillion baht, notably the high-speed rail and dual-track train projects. He also claimed that his government has paid off 2.6 trillion baht of national debts, far more than any past governments had done.

Prayut also pointed out that some 854 billion baht of the 1.5 trillion baht loan to tackle the Covid-19 crisis had been spent on helping people and businesses affected by the lockdown. Also, he said, another 280 billion baht from the loan was spent on stimulating the economy so people can resume their lives as soon as possible.

“This has resulted in Thailand being ranked third globally as a country that has best handled the Covid-19 crisis,” Prayut said.

“In conclusion, I insist the Thai economy is still stable and can withstand crises despite the impact of rising fuel prices and severe inflation. The government will use its remaining 250 days to do what it can to pull Thailand out of this crisis as soon as possible,” he said.