Bangkok: In a recent Senate meeting, the focus was on Thailand's economic direction amid discussions on growth targets and stimulus measures. The session, chaired by Gen. Kriangkrai Srirak, First Vice President of the Senate, saw Senator Mr. Naraset Prachayakon raising concerns about the country's economic growth rate. Questions were posed regarding the effectiveness of current economic stimulus measures, particularly in light of decreased domestic tourism from Chinese visitors due to external factors like the call center gang's impact.
According to Thai News Agency, Mr. Naraset highlighted the need for strategic investments over populist policies to ensure long-term economic competitiveness. He criticized the government's short-term economic initiatives, such as the 115 billion baht investment project distributed across 50 government agencies, which the Ministry of Finance predicts will increase GDP by 0.4%. Mr. Naraset argued that these measures are insufficient and likened Thailand to a ship struggling in a storm without a clear direction.
In response, Mr. Paopum Rojanasakul, Deputy Minister of Finance, defended the government's economic performance under Prime Minister Ms. Paethongtarn Shinawatra. He noted that the GDP has consistently grown by more than 3% each quarter, surpassing expectations in the second quarter of 2025. Mr. Paopum emphasized the government's forward-thinking approach, aiming to reshape the country's economic structure and create a new economic engine.
Mr. Paopum also reported positive developments in tourism, with a rebound in the number of tourists in June following a two-month decline. Measures such as promoting events like Formula One and developing infrastructure, including Phuket Port and Songkhla Port, are part of the government's strategy to boost the economy. He assured that the government is committed to addressing economic challenges by fostering new industries and attracting foreign investment.
The Deputy Minister highlighted the government's vision of seizing opportunities to enhance Thailand's economic standing globally. By focusing on both immediate and long-term solutions, the government aims to propel Thailand to the forefront of the international economic stage.