Bangkok: Deputy Prime Minister and Finance Minister Ekniti Nitithanpraphas is optimistic about the Thai economy's growth prospects, predicting an expansion of over 2% by 2025. The minister highlighted various initiatives aimed at revitalizing the economy, focusing on debt resolution, workforce upskilling, and attracting foreign investment.
According to Thai News Agency, Ekniti pointed out that short-term economic stimulus policies are beginning to yield positive results. Programs like "Half-Half Plus," "Travel Good, Get a Rebate," and the "State Welfare Card" are enhancing consumer purchasing power. These efforts are part of the broader "Five Economic Pillars" strategy, designed to lift the country out of its economic slowdown and lay the groundwork for sustainable, long-term development.
In terms of debt resolution, the government has introduced a project to manage retail debts up to 100,000 baht through an asset management company, utilizing 20 billion baht from the FIDF fund. This initiative aims to assist around 2 million debtors by restructuring debts, reducing principal and interest amounts, or extending repayment terms. Plans are also underway to extend this project to over 100,000 farmers in collaboration with the Bank for Agriculture and Agricultural Cooperatives, with a more detailed plan expected by November.
The Ministry of Finance is also committed to upskilling and reskilling more than 100,000 Thai citizens in sectors such as digital technology, electric vehicles, smart agriculture, and medical hubs. A 10 billion baht "Competitiveness Enhancement Fund" has been established to support the private sector, along with a "Guillotine" task force aimed at removing regulatory obstacles to unlock investment projects worth over 470 billion baht.
Additionally, the government is set to promote future investments through the "Thailand Future Fund," focusing on attracting foreign investment in the ESG sector for clean energy projects like EGAT's floating solar initiatives. This approach is intended to enhance long-term revenue without increasing public debt, thereby strengthening the Thai economy sustainably.