Caretaker Prime Minister Gen Prayut Chan-o-cha recently discussed the current economic situation and fiscal administration in Thailand during this week’s Cabinet meeting on Tuesday (May 30th).
The first quarter report for 2023 noted an uptick in employment, an improvement in weekly work hours and a steady unemployment rate of 1.05%. Notably, household debt is on the decline, ensuring stability in the repayment capacity even considering past circumstances.
As of April 2023, fiscal management of 43 state enterprises reached a substantial total of 94.8 billion baht, indicating an expenditure rate of 109% covering 35% of the annual constitutional budget. The report also elaborated on specific investments over the first seven months, corresponding to a significant portion of the disbursement plan and the annual investment budget.
Amid persisting uncertainties in the political and fiscal spheres following the general election, the premier reassured that the situation is under vigilant observation. He also emphasized that Thailand’s financial standing remains robust, backed by strong international conditions and a comprehensive macroeconomic policy framework.
The resurgence of private sector consumption and the return of international tourists are both positive indicators, representing an all-round progress in the economic situation.
Gen Prayut advised the public to stay apprised of these and other encouraging developments as the national outlook continues to improve going forward. (NNT)
