In a strategic move to energize Thailand’s economy, Prime Minister Paetongtarn Shinawatra has unveiled a robust 22-member board dedicated to steering the nation’s economic stimulus policy. This formation promises a dynamic thrust towards fulfilling the government’s commitment to economic revitalization. The decision closely follows the government’s policy declaration in parliament just last week, outlining plans to stimulate spending, reduce living costs, and expand job opportunities.
Spearheaded by Ms. Paetongtarn herself, the board boasts nine cabinet ministers, notably including the finance minister and his two deputies. The team further enlists the prime minister’s secretary-general, and high-ranking officials from the Finance and Interior Ministries. Key figures such as the secretary-general of the National Economic and Social Development Council, the Budget Bureau director, the Bank of Thailand governor, and the heads of pivotal financial organizations complete this formidable assembly.
With the finance permanent secretary functioning as the board’s secretary and the director of the Fiscal Policy Office as an assistant, the team is set to sculpt the project’s blueprint. They are entrusted with determining its policy framework, objectives, implementation strategy, and funding sources, all of which will be submitted to the cabinet for approval. Moreover, their mandate includes setting guidelines for effective database management to support these economic initiatives.
The board is also empowered to create working teams to assist in its endeavors and can solicit insights from various experts. A call has been made for state agencies and enterprises to pitch in, ensuring a unified approach towards economic revitalization.
Meanwhile, Deputy Finance Minister Julapun Amornvivat addressed the media regarding the second phase of the digital wallet scheme. Some anxieties had surfaced about a potential cancellation following an indefinite delay in announcing the results for those who registered via smartphones. But Mr. Julapun assured that the second phase is very much on track, with earmarked funds already in place.
“We want to do more than just stimulate the economy,” Mr. Julapun emphasized, “We aim to lay the groundwork for a robust digital economy.” This commitment is reflected in the planned distribution of around 180 billion baht through the digital wallet initiative.
The government is currently prioritizing immediate financial relief for state welfare and disability cardholders—about 14.5 million individuals—by distributing cash starting Wednesday. This maneuver is a prelude to the larger digital economy aspirations.
In addressing concerns raised by the opposition, particularly from People’s Party MP Sirikanya Tansakun, Mr. Julapun clarified that the delay in announcing the registration results aims to prevent confusion while simultaneously managing cash handouts to the needy. This temporary holdup is a tactical move to streamline processes before rolling out the greater digital wallet initiative.
With this meticulously crafted plan under the seasoned leadership of Ms. Paetongtarn and her elite team, Thailand is poised on the cusp of significant economic transformation. This initiative is more than a short-term stimulus—it’s about laying the foundation for a thriving, digitally driven economic future.
I don’t see how yet another government board is going to solve anything. We’ve had enough of these ‘dynamic thrusts’ and empty promises.
Alex, agree or not, every new board comes with fresh perspectives and expertise. We should give them a chance at least.
Sara, I get the optimism, but history hasn’t been kind to these initiatives. It’s just more bureaucracy.
Exactly, Alex. It’s just another layer of officials who’ll sit in air-conditioned rooms discussing ‘policy’ while the real issues remain untouched.
What other options do you suggest, then, Alex? We need some mechanism to organize efforts.
Jason, less talk, more action. Direct investments in education and small businesses would make a bigger impact.
All this talk about digital economy is useless if people don’t have access to reliable internet. Start there first.
Isn’t it reassuring that they’re setting up working teams? At least experts will be involved.
Lucas, experts have been involved before, but nothing changes. It’s always the same cycle.
That’s why we need accountability measures. Transparency is key here.
The opposition is always going to push back, but without delay, some steps are necessary to avoid chaos.
Trust delayed is trust betrayed. They always find ways to delay what’s essential for the people.
Nguyen, sometimes delays are necessary for better planning and execution. Knee-jerk actions can cause more harm.
Interesting that they’ve included high-ranking officials from key financial institutions. That could be a game-changer.
I think the digital wallet initiative is a poor use of funds. We should focus on immediate economic relief first.
Why can’t we do both? Immediate relief and setting up a digital economy are not mutually exclusive.
Priya, resources are finite. Priorities should be set. I’d rather see funds go directly into people’s hands now.
This is just a political stunt. They’re only doing this to look good in the media.
I think it’s great to distribute cash to those who need it most, like the state welfare recipients.
What about the long-term impact of these plans? How sustainable are they really?
Good point, Mohammed. Sustainability should be a key criterion for any economic policy.
Can we expect any real change from a board mostly composed of government officials? I doubt it.
I wish they’d involve more young entrepreneurs in these discussions. Digital economy is their turf.
Why isn’t there more focus on reducing living costs immediately? Talk about misplaced priorities.
At least they are considering expert advice, unlike in the past where decisions were made in isolation.
All of this is just a way for the government to control more of the economy. Classic overreach.
I think we should give Ms. Paetongtarn a chance to prove herself. Her leadership could make a difference.
Why haven’t they addressed the potential for corruption within this new board? Seems like a glaring oversight.
For the digital wallet, what about those who don’t have smartphones? Are they just left out?
Good question, Ravi. Inclusivity should be a priority in any digital initiative.
Indeed, Alice. Leaving anyone out defeats the purpose of ‘economic revitalization.’
Funny how they’re focusing on a digital economy while basic infrastructure still struggles.
The inclusion of the Bank of Thailand governor is strategic. It adds credibility to the board’s commitments.
It’s all about optics. This board will probably accomplish nothing of substance.
The delay in the second phase of the digital wallet scheme is concerning. What guarantees do we have that this won’t become a huge mess?
Exactly, Izzy. The government needs to provide a clearer timeline and strict milestones.
Can we expect these economic policies to focus on climate-friendly initiatives as well?