Thai government spends 185 billion baht in 123 days met with criticism

Prime Minister Srettha Thavisin’s coalition government unleashed a whopping 185 billion baht assault on Thailand’s economic and social quagmires, thansettakij.com on January 13.

The audacious measures by the 61 year old PM include a multifaceted approach to lighten the burden on citizens, with reductions in fuel and electricity prices, financial lifelines for struggling small to medium-sized businesses, debt relief for farmers, and a crackdown on surging household debts.

A standout move by the government has been the audacious capping of electricity prices for households and businesses at 2%, defying the significant surge in fuel prices. This daring strategy results in an average annual savings of 1,000 baht for households, a move celebrated by many but questioned by critics.

Moreover, tax breaks and financial aid have been extended to businesses in a bid to catapult them out of the clutches of the Covid-19 pandemic and the global economic downturn. Simultaneously, a barrage of infrastructure projects has been unveiled, promising not just job creation but also a surge in economic growth.

Yet, this unparalleled spending spree has ignited a maelstrom of mixed reactions. While some applaud the government for its decisive actions in the face of adversity, critics are quick to denounce the perceived extravagance and lack of focus.

In a staunch defence, the government insists that such spending is imperative for the country’s recovery, asserting its commitment to fiscal discipline and assuring the public that safeguards are in place to prevent an uncontrollable debt spiral, reported The Nation.

The jury is still out on whether the government’s financial blitz will successfully combat the nation’s challenges. Critics question the sustainability of such a colossal spending spree, while supporters see it as a bold move to uplift the Thai people. Regardless, the government remains resolute in its mission to take whatever actions are necessary to enhance the well-being of the nation.