The Paetongtarn administration has completely failed to improve the economic situation after six months in the office, as evidenced by increased household debt, the high cost of living, rising unemployment, closure of numerous SMEs, falling prices of all main agricultural products and the lowest GDP among ASEAN nations, except Myanmar, said People’s Party MP Sirikanya Tansakul in her censure motion speech today.
She said the prime minister is inexperienced and incompetent in handling economic problems and, worse still, she has ignored them, adding that any economic achievements claimed being by the government are, in fact, pure luck.
The prices of rice, rubber, tapioca, maize, oil palm, sugarcane and vegetables have fallen steadily, she said. The price of rice has dropped to about 5,000 baht per tonne, from a peak of about 20,000 baht some years ago.
Sugarcane has fallen to 1,160 baht/tonne for the 2024-25 harvest, from 1,400 baht/baht for the previous harvest, tapioca has fallen by about 40%, to only 90 satang/kg, and the price of maize has dropped by about 20%.
Sirikanya said she does not want to blame the Commerce Ministry for the slump in prices of main agricultural products, but the prime minister for her ignorance of the plight of the farmers.
While agricultural prices are falling steadily, she noted that the prices of milled rice and palm oil have not dropped accordingly, adding that most unskilled workers are being paid less than 400 baht/day, despite the government’s promise to raise the minimum wage to 600 baht.
Commenting on the government’s “digital wallet” scheme, Sirikanya said that more than 180 billion baht has been disbursed to the disabled, state welfare card holders and people over 60, but there has not been any multiplying effect that has boosted the economy, as the government claimed that there would be.
Now, the government is considering buying non-performing loans from commercial banks, to help ease the burden on debtors, said the People’s party MP, as she suggested that the government waits until the digital wallet scheme has been fully implemented.
The 16-60 age group are yet to receive the 10,000 baht benefit under the scheme, which was promised by the government.
