In Bangkok, Prime Minister Srettha Thavisin has announced the forthcoming convening of the inaugural economic cabinet meeting, scheduled for the upcoming Monday.
Set against the backdrop of Thailand’s lackluster first-quarter GDP growth of a mere 1.5%, the lowest among ASEAN nations, pertinent agencies are poised to gather and deliberate on strategies to tackle the nation’s economic challenges.
With a focus on collaborative problem-solving and policy formulation, the Prime Minister underscored the imperative nature of the meeting. Highlighting the significant role played by the service and tourism sectors in propping up the GDP growth, Prime Minister Srettha voiced concerns over a potential technical recession absent such contributions. Emphasis was placed on addressing pressing issues such as credit card debt, non-performing loans, and household debt.
The agenda for the economic Cabinet entails short-term measures aimed at stimulating economic activity, although no groundbreaking initiatives are anticipated. Weekly assemblies and smaller group dialogues will facilitate input from diverse sectors, encompassing international trade, agriculture, law, and policy, to devise appropriate strategies.
While acknowledging the arduous task ahead, the Prime Minister reaffirmed his unwavering commitment to securing a prosperous future for the nation’s youth. Plans are also underway for a visit to Bangkok and its environs on May 25th to 26th, during which various projects will be monitored.
In concluding remarks, the Premier acknowledged the toll of the demanding schedule on health but reiterated his steadfast dedication to advancing the country’s long-term interests.
