Amid a visit to the Northeast in the tranquil province of Khon Kaen, the government expressed a keen desire to witness the country’s GDP grow by five percent annually,” voiced the man at the helm of financial authority, doubling as the Finance Minister, Srettha.
Relevant reports from the National Economic and Social Development Council indicated a GDP growth of 1.8% for the first half of the fiscal year. This reading did not match up to the pace from the first quarter (2.6%) and moreover, missed the median projection of a 3.1% hike for Q2.
Deviating from the strategies employed by former regimes, Srettha said his administration has set aside the implementation of a rice-pledging system or a price-guarantee scheme, except in instances of natural calamities. He clearly emphasized his stance on subsidies, criticizing them for manipulating global market values and deficient in upholding financial and monetary regulations.
“We aim to escalate the net gain for our farmers. When income is instant, output is high, and overheads are reduced, the total gains of the farmers will inevitably rise. The need for a price-support programme or rice-pledging schemes fades as they have a propensity to skew the global market. This applies to all categories of agricultural products,” elaborated Srettha.
To address the recurring issue of debt for farmers, Srettha spoke of his government’s plan to enforce a debt relief policy accompanied by other measures to augment farmers’ income. Despite the successful allocation of 13 debt moratoriums in the past near-decade, the income of farmers remained unimproved. He admitted the necessity of novel measures to drop costs while escalating farmers’ revenues, during a meet-up with the locals and government officials at Ubol Ratana Dam in Khon Kaen.
Srettha also took ownership of the severe drought dilemmas faced by the naturally susceptible Northeast. To tackle this, he advocated long-term strategies such as transporting water from the Northeast’s four rivers to the dam via a long pipeline. He said, “This project will ultimately alleviate the drought issues in the long-term.”
The premier, along with his delegation of pertinent Cabinet Ministers, departed for the neighbouring Udon Thani province after concluding their visit to Khon Kaen.
While in Udon Thani, Srettha visited Nong Dae Park, the proposed venue for International Horticultural Expo 2026 scheduled to occur between November 2026 and March 2027. He expressed his concerns over the surging budget for the expo, embodying a steep climb from 2.5 billion baht to 5.5 billion baht, at the expense of other economic sectors.
Srettha continued his official tour in the Northeast by heading to the scenic Nong Khai province, located on the cusp of the border with Laos. Onboard a second-class train, he was accompanied by Deputy PM and Commerce Minister Phumtham Wechayachai, among other significant members of the business community. A high-level discussion on the transport of Thai goods to China via train took place during the journey.
The State Railway of Thailand’s governor, Nirut Maneephan, informed Srettha about the upcoming extension of double-track lines from Khon Kaen to Nong Khai. This development would create new transportation corridors connecting Thailand and China via Laos. Furthermore, Srettha also inspected the site earmarked for a state-of-the-art cargo distribution centre in Nong Khai. This centre will feature a one-stop service, situated beside Natha train station, and span across 193 rai (31 hectares). The project will necessitate a 5.4 billion baht investment, laying another cornerstone for economic expansion.
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