Thai PM unveils plan to boost economy, stability

Thailand's Prime Minister Anutin Charnvirakul outlined his policy agenda on Thursday, pledging multiple measures to strengthen economic resilience and national stability amid mounting challenges.

In a policy statement to Parliament that lasted more than an hour, Anutin affirmed the new government's commitment to people's well-being.

"I will make efforts to ensure Thailand is strong from within, our people can stand on their own feet, the country's economy is competitive, and we maintain confidence from the outside world," he said.

To build internal strength and bolster global confidence, he laid out a comprehensive policy framework covering economy, foreign policy and national security, social welfare, disaster management and environmental solutions, among others.

On the economic front, Anutin pointed to three urgent tasks — creating jobs, widening access to employment and tackling debt in a systematic way.

A revamped Half-Half Plus program — a government co-payment initiative aimed at boosting consumer spending — is in the pipeline, paired with efforts to upgrade workers' skills, especially in financial literacy and future-oriented capabilities.

In addition, Anutin vowed to ease cost pressures on small — and medium-sized enterprises, giving local governments a stronger role and advancing tax policies to drive regional growth. Meanwhile, investment in science, technology and innovation will be stepped up to reshape the economy and attract strategic capital.

Such a policy will also benefit the agriculture sector, which is expected to see an upgrade via advanced technologies with ambitions to position Thailand as a global food security hub.

To improve public well-being, Anutin introduced a strategic shift in state administration, moving toward an integrated "cluster" system. This approach emphasizes performance-based targets and key performance indicators.

Regarding trade, the government's goal is deeper global integration, while ensuring stronger competitiveness of Thai companies and tighter checks on product origin to filter out low-value imports. Tourism, meanwhile, will be reinforced to maintain the country's edge as a top regional destination.

On foreign policy, the government aims to restore global confidence, keeping a balanced stance amid shifting geopolitics. Security efforts will focus on tighter border control, crackdown on cross-border crime, and review of visa-free policies to curb financial crimes such as scams and money laundering.

Following Anutin's speech, the Parliament is deliberating on the policy statement, with House Speaker Sophon Zaram presiding. The debate will conclude on Friday, after which the new administration will formally assume full power to implement its agenda.

War's impact

Key challenges facing the new government include the energy crisis and high fuel prices, which threaten to cause stagflation, with industrial production costs rising.

At a news briefing on Wednesday, Aaditya Mattoo, director of the Development Research Group at the World Bank, said Thailand is among the economies most exposed to rising global energy prices in the region.

A second-quarter survey recently released by the Thai-Chinese Chamber of Commerce revealed that the conflict in the Middle East is already exerting direct and indirect effects on Thailand.

"The regional conflicts have already affected the global economy," said Narongsak Putthapornmongkol, the chamber's president. "For Thailand, we are also worried about the impact on the tourism industry."

According to a nationwide survey conducted by the University of the Thai Chamber of Commerce in Bangkok, spending during this year's Songkran holiday — which runs from April 13 to 15 — is projected at 130 billion baht ($4 billion), marking the first decline in the Thai holiday spending in four years.

Narongsak warned that severe economic shocks will linger — most notably energy shortages driving up prices — which could make Thailand's outlook for this year highly uncertain.

"The government must accelerate efforts to address corruption and structural debt problems to ensure the economy can move forward," he said.