PM urges NESDC to push digital policy
Prime Minister Srettha Thavisin has urged the National Economic and Social Development Council (NESDC) to back the new government's digital currency initiative as a way to boost domestic consumption and subsequently benefit the Thai economy.
Danucha Pichayanan, the NESDC’s secretary general, met with the PM on August 28 to submit a report on the current status of Thailand before Srettha officially assumes administrative responsibilities.
The report addresses the economic and social situations in Thailand, both at present and in terms of future trends. During the second quarter of this year, the Thai economy expanded by only 1.8%, slowing from the 2.6% growth in the first quarter. For the first half of this year, the Thai economy grew by 2.2%.
With regard to the economic outlook for Thailand for the rest of this year, NESDC reported that the economy is projected to grow by 2.5-3%, supported by factors such as growth in private consumption, continuous recovery in the tourism sector, and ongoing expansion of investments from both the private and public sectors.
On the social front, NESDC also reported on the employment and unemployment situations, as well as the issue of household debt in Thailand, stating that unemployment rates remain high and the household debt situation continues to be challenging.
Prime Minister Srettha has been briefed on the economic and social conditions of the country and has requested NESDC to be prepared to implement policies that the government intends to drive forward, especially the initiative of distributing digital currency of 10,000 baht to stimulate the economy.
The Prime Minister also emphasised the need to focus on promoting tourism to generate income, as well as trade negotiations within the framework of Free Trade Agreements (FTAs) with various countries. Additionally, measures to support the agricultural sector through a three-year debt suspension for farmers were discussed. This initiative aims to triple the income of farmers to an average of 30,000 baht per rai (or 0.39 acre) per year by 2027, up from the current average of 10,000 baht per rai per year, along with providing assistance to SME business owners.