BANGKOK: Thailand’s economy is in a “critical situation”, the prime minister’s chief of staff said on Monday (Mar 4), stressing the need for stimulus measures aimed at tackling household debt, boosting tourism and attracting foreign investment.
“Figures show we are not in good shape,” Prommin Lertsuridej told reporters.
His remarks come as Prime Minister Srettha Thavisin’s government pushes to revive Southeast Asia’s second-biggest economy, which has suffered from weak exports and a slow recovery from the pandemic compared to regional peers.
The economy unexpectedly contracted in the fourth quarter of 2023 and policymakers have downgraded the growth outlook for this year, adding to pressure on the central bank to give in to the prime minister’s near-daily demands for an interest rate cut.
Srettha has outlined ambitions to make Thailand a regional hub for several sectors including…
