New Thai PM Paetongtarn to push ahead with cash stimulus to revive economy

BANGKOK (Bloomberg): Thailand’s newly-appointed Prime Minister Paetongtarn Shinawatra vowed to push ahead with a controversial US$14 billion cash stimulus plan as her cabinet finalized a blueprint to free Southeast Asia’s second-largest economy from a prolonged period of low growth and chronic household debt.

Paetongtarn, who was sworn in to office along with her 35-member cabinet on Friday, will present her government’s policy statement to parliament next week. It is expected to spell out details of the long-delayed cash handout and her administration’s agenda to promote tourism and foreign investment.