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Thai PM Paetongtarn vows to boost economy

By Manila Times - 3 months ago
BANGKOK — Thailand's Prime Minister Paetongtarn Shinawatra said on Saturday her new government would seek to stimulate the economy "right away" and continue with the policies of her predecessor Srettha Thavisin. She held a special Cabinet meeting earlier in the day to prepare policies that will be delivered at a two-day meeting of parliament on Thursday and Friday that will mark the formal beginning of her administration. Paetongtarn was elected premier by the Southeast Asian kingdom's House of Representatives last month following Srettha's shock removal by the Constitutional Court for ethical violations. She said her government would mainly continue Srettha's policies with some adjustments. This includes tackling issues such as debt restructuring, supporting small and medium-sized enterprises, and boosting the agricultural and tourism sectors. "Our work will continue from Srettha's government, particularly in stimulating the economy," Paetongtarn said at her first press conference since her Cabinet was sworn in by King Maha Vajiralongkorn on Friday. The monarch congratulated her new Cabinet during the swearing-in, saying in a speech broadcast on television news: "I trust that you will perform your duties with excellence." The 36-member Cabinet includes a record eight women, according to public broadcaster Thai PBS. Paetongtarn did not directly address a question about potential adjustments to the government's flagship digital wallet scheme or when it might be implemented. The scheme calls for 50 million Thais to each receive 10,000 baht ($295) via a smartphone application. Paetongtarn said this week that part of the government's 450-billion-baht ($13.4 billion) handout plan would be distributed in cash, signaling that the wallet scheme could be adjusted but did not provide details. The youngest daughter of divisive former premier Thaksin Shinawatra, Paetongtarn has not served in government previously and will face difficulties on multiple fronts from the floundering economy — Southeast Asia's second-largest — to potential legal challenges similar to the one that led to Srettha's dismissal. She is the third member of her family to hold the premiership, after her father and aunt Yingluck. Thaksin, a 75-year-old telecommunications billionaire and one-time Manchester City owner, is loved by millions of poorer Thais for his social welfare policies in the early 2000s. But he has long been despised by elites who accuse him of corruption and wanting to smash Thailand's social order. Parties linked to Thaksin finished first in every election from 2001 until last year but their governments were regularly upended by court orders and coups. The army ousted Thaksin in 2006 and Yingluck in 2014, after which both went into self-exile abroad. Thaksin's critics have long accused him of pulling the strings, even while he was out of the country, and Paetongtarn will be watched closely for signs of his influence. "That's the headwind for Paetongtarn, she has to prove herself that she has her own agenda, she has her own will ... and that's very difficult," Khemthong Tonsakulrungruang, an analyst from Chulalongkorn University, told Agence France-Presse (AFP). Thaksin returned from exile last year on the day Pheu Thai secured the premiership in a coalition deal with former foes in pro-military parties, leading many to suspect he had cut a backroom deal. He was immediately sentenced to eight years in jail on graft and abuse of power charges dating back to his rule. He swiftly had his sentence cut and was pardoned last month without doing any time in jail.

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