Dr. Promin Lertsuridej, a Pheu Thai Party leader and former secretary to Prime Ministers Srettha Thavisin and Paethongtarn Shinawatra, revealed the economic management direction if Pheu Thai forms the government. He emphasized the urgent need to adjust the country’s monetary policy, making it a key agenda to discuss with the Bank of Thailand (BOT) regarding changing the monetary policy framework from the current inflation targeting system to an exchange rate targeting system. He cited Singapore’s successful economic management model as an example, which aligns currency value with its export-dependent economy. He believes implementing this policy would not be difficult if there is clear agreement at the policy level.
“The reason for reconsidering the monetary policy framework is that over the past decade, the inflation targeting system has failed to keep inflation within the 1-3% target range, consistently falling below the benchmark. This has led the BOT governor to issue more than ten explanatory letters to the Ministry of Finance. Moreover, the private sector has heavily complained about the Thai baht appreciating by about 7-8%, while key competitors like Vietnam’s currency weakened by 3%, making Thai products over 10% more expensive and less competitive. Additionally, maintaining policy interest rates higher than the economy’s capacity has absorbed liquidity from the system, causing GDP growth to lag behind the potential 5% level.”
. Show Results of the "Ink" Government: 3% GDP Growth
Regarding economic achievements during the period when Pheu Thai led the government, Dr. Promin confirmed success in sustaining and stimulating the economy. He pointed to GDP growth figures across the four quarters under Prime Minister Paethongtarn’s government, showing an average expansion of more than 3% amid global economic crises and volatility: Q3 2024 grew 3%, Q4 2024 grew 3.3%, Q1 2025 grew 3.2%, and Q2 2025 grew 2.8%.
Mr. Pongsaran Aswachaiso, Pheu Thai party-list MP candidate and former deputy secretary to Prime Minister Pichai Chunhawat, who was Deputy Prime Minister and Minister of Finance, added on investment achievements that last year’s Board of Investment (BOI) promotion applications hit a record high of 1.54 trillion baht. He attributed this to the government team’s aggressive international roadshows, using a "Queen Bee" strategy to attract major investors to build a domestic supply chain ecosystem, such as securing Google and ByteDance (TikTok) to establish hyperscale data centers, key industries of the future. Mr. Pongsaran also explained that policy interest rates higher than economic capacity caused commercial banks to deposit money at the BOT for risk-free interest instead of lending to the private sector, leading to a liquidity drain in the system.
Regarding key projects under public scrutiny, Dr. Promin mentioned the Digital Wallet project, stating that with sufficient budget, the government is ready to proceed but might adjust the format to focus on supporting vulnerable groups and over 14 million state welfare cardholders, including those left behind, by topping up funds to lift them above the poverty line. He confirmed continuing the entertainment complex initiative, initially planned for the Khlong Toei area, aiming to legitimize the gray or underground economy with a clear player registration system like Singapore’s, generating government revenue. Alongside this, the government will advance the land bridge project as a public-private partnership (PPP) to attract foreign investors.
. Highlighting "Yossanan" Creating High-Value Economy
Beyond finance and investment, Pheu Thai also promotes a key campaign led by Yossanan Wongsawat, the party’s prime ministerial candidate, focusing on laying the foundation to become a high-income country by building a high-value economy through science and technology. This involves transforming agriculture by shifting from traditional price subsidies to a 30% profit insurance policy emphasizing cost reduction via precision agriculture technology, farmer registration for zoning, soil condition checks, and customized fertilizer use. This approach can reduce fertilizer costs by up to 50% and increase yield per rai, aiming to elevate Thai agricultural products to the "Agri-Food" system, linking agriculture and food sectors and creating sustainable income security for farmers.
“Yossanan Wongsawat’s vision also extends to promoting the medical and wellness industry, a market with high growth potential of 10-12%, contrary to the global economy’s 2-3% growth. This plan leverages agricultural strengths, such as Thai herbs, combined with medical research and services to add value and attract health tourism revenue. Additionally, there is a concept to repurpose existing resources, like converting automotive parts factories to produce drones and defense equipment to reduce imports and create new growth curves for Thailand’s industry.”
Dr. Promin emphasized Yossanan’s human capital development policy under the "AI for All" campaign, aiming to train and develop 4 million Thais in artificial intelligence (AI) skills over four years—averaging 1 million per year—through cooperation with the private sector and vocational institutions under the concept "Learn with funding, graduate with jobs." This ensures Thailand’s workforce meets digital labor market demands, alongside employing digital government technology to reduce corruption and improve public service efficiency.