Former PM Srettha Offers Economic Prescription in Financial Times

Former Prime Minister Srettha Thavisin has proposed solutions to Thailand's economic challenges in a letter published by the Financial Times on February 11, titled 'A former PM offers a cure for Thailand's economic ills.' Responding to a February 4 report that labeled Thailand the 'sick man' of Asia, Srettha argued that while the article identified the country's economic symptoms, it overlooked potential remedies. He called for a 'big reset' to tackle household debt, urging asset management companies to purchase non-performing loans to ease debt burdens and revive domestic consumption, arguing that past stimulus measures and cash handouts were insufficient. Srettha outlined a two-pronged strategy to integrate Thailand more deeply into the global economy: investing in major infrastructure projects like a north-south railway and a land bridge linking the Andaman Sea and Gulf of Thailand, and modernizing regulations to attract green-focused global investors. He emphasized that tourism should shift from volume to value and improving the ease of doing business is essential for long-term competitiveness.