Pheu Thai party leader Paetongtarn Shinawatra has blamed the statutory independence of the Bank of Thailand (BOT) from government control for being an obstacle to the government’s efforts to address economic problems.
Fiscal policy has been ‘lopsidedly’ managed, resulting in a steady rise in public debt,” she said.
“Unless the central bank understands and cooperates with the government, Thailand’s staggering public debt will not be reduced,” she said.
She also blamed the current problems facing the country on the military junta and the previous administration for the bloated and lethargic bureaucratic system.
They made it incapable of coping with the rapid changes in the economic and technological landscapes, the modern security threats, resulting in the unprecedented growth of the underground economy and a lack of employment opportunities.
Addressing party members yesterday, the youngest daughter of Thaksin said that the Pheu Thai-led government has changed from a bloated, opaque, and lethargic administration into a ‘digital government,’ which is transparent, energetic, and fast-acting.
This transformation is manifested by its plan to restructure the bureaucratic system, eliminate obsolete laws, and reassert Thailand as the regional hub for aviation and finance.
On the economy, the Pheu Thai party leader said that the government will not just inject more money into the economic system by increasing the minimum wage to replenish the outflow of capital from the system, but it will also aim to attract more foreign investment to create more job opportunities for Thais.
The Pheu Thai party has the most experience in national administration of all parties, said Paetongtarn, adding that, if the Pheu Thai party is not the core party in the government, none of the longstanding problems will be resolved.
“We have wasted a lot of time and lost opportunities for almost two decades as a result of coups. We are confident that we can make it and score a perfect 10 before the next election,” she claimed.
