Thailand at Risk! Banking Association Urges New Government to Boost Competitive Potential

Thailand is at risk of being downgraded, with the banking association pressing the new government to stimulate economic competitiveness. Phayong Sriwanich, president of the Thai Bankers Association (TBA) and CEO of Krungthai Bank, emphasized the need for economic stimulus measures that connect to medium and long-term strategies. He warned that short-term stimulus is like water seeping into sandy ground and disappearing, given the limited public resources. The country is close to a potential credit downgrade, which would create additional economic pressure. Industrial leaders also highlighted concerns about household debt, import challenges, currency fluctuations, and the need for comprehensive economic reforms. The new government will need to address these issues within its first 100 days, focusing on competitive potential, sustainable income generation, and overcoming regulatory obstacles.