BANGKOK, May 19 — The Thai government has announced plans to review its policies and projects in response to global economic volatility caused by trade wars and tariff policies imposed by major powers.
Thai Government spokesperson Jirayu Huangsub said Prime Minister Paetongtarn Shinawatra chaired a policy committee meeting on economic stimulus projects to discuss measures to address these challenges.
He noted that the ongoing trade war and tariff policies have adversely impacted trading partners, including Thailand, resulting in a fall in overall income, particularly in the export and international trade sectors.
“Government revenue collection is also expected to fall short of targets. Consequently, there is a need to review government plans and projects while prioritising structural economic reforms to promote long-term economic growth, strengthen the grassroots economy, and support small and medium enterprises,” Jirayu said in a statement after today's meeting.
The meeting at Government House was attended by four Deputy Prime Ministers: Phumtham Wechayachai, who is the Defence Minister; Anutin Charnvirakul, the Interior Minister; Pichai Chunhavajira, the Finance Minister; and Prasert Jantararuangtong, the Digital Economy and Society Minister.
Other participants included ministers, deputy ministers, senior officials at the permanent secretary level, and representatives from relevant agencies.
Paetongtarn emphasised the meeting as a platform to brainstorm and propose economic strategies aligned with current circumstances.
“The Prime Minister urged all parties to act diligently to effectively drive the economy forward while strictly complying with legal standards,” he said.
The meeting also approved an economic stimulus plan with a budget framework of 157 billion baht (RM20.3 billion) and endorsed the revision of budget allocations under the fiscal year 2025 central budget. The measures aim to stimulate economic activities and strengthen the economic system.
Jirayu said the Finance Ministry has been tasked with promptly presenting the proposed economic stimulus plan to the Cabinet.
— Bernama
