Paetongtarn addresses Thailand’s economy in first parliamentary speech

Thailand's new Prime Minister Paetongtarn Shinawatra delivered her inaugural speech to Parliament, focusing on the country's pressing economic challenges. She emphasized the need to address high household debt, rising living costs, and stagnant incomes, aiming to restore hope among the Thai populace. Immediate plans include measures to alleviate household debt, reduce costs of essential services, and boost tourism while introducing new technologies in agriculture. Paetongtarn also proposed generating new revenue by legalizing and taxing the informal and underground economies, hinting at plans to legalize casinos as part of entertainment complexes. These casinos would be accessible to foreigners, while Thai citizens would face an entrance fee, reflecting a strategy to attract foreign investment and tourism. Additionally, she committed to implementing a digital cash handout program, initially promised during the last election campaign, which will now prioritize vulnerable low-income groups. This program aims to provide financial support to those in need, with payments expected to begin soon. Her rise to power marks a significant moment for the Shinawatra political dynasty, as she is the youngest and second female prime minister in Thailand's history. The political landscape is evolving, with a strong mandate for change following years of military control, although her government has formed alliances with pro-military parties, indicating a complex political dynamic ahead.