Economic recovery hinges on policy and tariff negotiations, claims Thaksin Shinawatra (Thailand)
Thaksin's Economic Recovery Plan: Agriculture, Policy, and Tariffs
Former Prime Minister Thaksin Shinawatra has laid out a comprehensive approach to revitalize Thailand's economy, focusing on agricultural product pricing, public policy, and tariff negotiations. Here are the main strategies based on his recent statements:
Revitalizing Agriculture
- Boosting Agricultural Prices: In light of the remaining two years of the current government's tenure, Thaksin underscored the need for the government to raise agricultural product prices to directly support the public, especially in the latter half of 2025[1][2].
- Paring Down Subsidies: Acknowledging high public debt and a steep household debt-to-GDP ratio, Thaksin recognized that extensive subsidies for agriculture are no longer viable. Instead, the government should focus on alternative means to support farmers and rural communities[1][2].
Implementing Public Policies
- Urgent Policy Execution: Thaksin urged the government to swiftly deliver key policies aiming at reducing the cost of living and combating drug abuse[1].
- Stimulating the Economy: To tackle debt issues while simultaneously stimulating the economy, Thaksin believes in the power of targeted public policies[1][2].
- Adjusting Programs: Faced with complications from US tariff regulations, the 157-billion-baht digital wallet scheme's agenda has shifted. Part of the funds will now provide direct assistance to affected citizens, while the remainder will focus on broader economic stimulus efforts[1][2].
Tariff Negotiations
- Facing US Tariff Challenges: Recognizing the impact of US tariff regulations on Thailand's economic stimulus plans, Thaksin called for effective negotiation and coordination on tariffs[1][2].
- Supporting Domestic Producers: By navigating tariff negotiations efficiently, both domestic producers and exporters can be shielded from adverse effects[1][2].
Moving Forward
- Keeping Promises: Despite the constraints of the current economic climate, Thaksin maintains that the government must stick to its commitments, even if it means phased implementation[1][2].
- Phased Debt Management: Thaksin drew a parallel between repaying a substantial debt with scarce resources and the government's approach to managing its debts, stressing the need for a steady, sustained effort to tackle economic challenges[1][2].
In summary, Thaksin's solutions revolve around targeted agricultural support, strategic public policy implementation, and adaptable tariff negotiations—all while addressing high levels of public and household debt. The digital wallet program will be revisited once economic conditions improve[1][2].
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- Business leader Thaksin Shinawatra advocates for revitalizing Thailand's agriculture sector, emphasizing the need to boost agricultural prices to support the public [1][2].
- In the face of high public and household debt, Thaksin suggests rethinking extensive agricultural subsidies and focusing on alternative means to support farmers [1][2].
- To combat drug abuse and reduce living costs, Thaksin proposes swift execution of key policies [1].
- Thaksin believes in targeted public policies as an effective solution to stimulate the economy and tackle debt issues [1][2].
- In the realm of policy implementation, Thaksin calls for an adaptable approach, citing adjustments to the digital wallet scheme in response to US tariff regulations [1][2].
- Recognizing the impact of US tariff regulations on Thailand's economic stimulus plans, Thaksin pushes for efficient tariff negotiations to shield domestic producers and exporters [1][2].
- In the future, Thaksin emphasizes the importance of commitment to promised policies, even during challenging economic times, and phased debt management [1][2].
[1] General-news source[2] Policy-and-legislation source
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