Bangkok: The Prime Minister is set to engage with the National Economic and Social Development Board (NESDB) to formulate an economic stimulus plan aimed at boosting GDP growth to 3-3.5% within the next two weeks. The Prime Minister recently convened a meeting with key economic advisors to track progress on this initiative.
According to Thai News Agency, following a Cabinet meeting, Prime Minister Ms. Paethongtarn Shinawatra held discussions with Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, and Dr. Prommin Lertsuridej, Secretary-General to the Prime Minister, to evaluate the current status of the economic stimulus plan. The Prime Minister had previously tasked Mr. Chunhavajira with developing a strategy to achieve the targeted GDP growth.
The Prime Minister shared a social media update outlining the progress made by Mr. Chunhavajira in collaboration with the Ministry of Finance, NESDB, Bank of Thailand, Budget Bureau, and Office of the Public Sector Development Commission. The plan is divided into short-term to medium-term operational strategies, including the acceleration of budget disbursements and enhancement of budget efficiency to support structural economic reform.
In addition, the plan aims to stimulate private sector investments, with a focus on facilitating Ease of Doing Business and advancing large-scale infrastructure projects. Export stimulation, including market expansion and trade negotiations, and tourism enhancements are also part of the short-to-medium-term strategies.
For sustainable growth, the medium-to-long-term plan addresses structural reforms, such as industrial restructuring, energy price adjustments, and agricultural reform. These initiatives aim to align with global market demands and improve competitiveness and quality of life for farmers.
The working group plans to engage further discussions with the private sector through the NESDB, with the goal of drafting a comprehensive economic stimulus plan within the specified two-week timeframe.