Sirikanya: PM's economic failures make Thais nostalgic for coup leader

People’s Party MP Sirikanya Tansakun stated on Tuesday that Prime Minister Paetongtarn Shinawatra’s poor economic performance has led Thais to miss the government of coup leader Gen Prayut Chan-o-cha.

Speaking on the second day of the censure debate against the prime minister, Sirikanya took the floor at 2 pm to express her lack of confidence in Paetongtarn’s leadership.

She argued that the prime minister had failed to revive the economy, eroding public trust in her administration.

Sirikanya described Paetongtarn’s economic failures as “unforgivable,” as they had caused the public to long for the days of Prayut, who seized power in the 2014 coup and later became prime minister following the 2019 election.

“The Paetongtarn government has wasted the mandate given by voters to restore democratic rule,” Sirikanya said. “It is unforgivable that she has led people to forget the negative impact of the coup and to believe that Prayut’s government was better than the current administration.”

Rising Costs and Economic Hardships Under Paetongtarn

Sirikanya pointed out several economic difficulties affecting the public, including:

• Rising cost of living
• Soaring consumer goods prices
• High electricity bills
• Declining commodity prices
• Stagnant wages

She criticised the government for failing to deliver on its promise to lower electricity bills and increase the daily minimum wage to 400 baht by 2024, despite having full ruling power.

“These promises were just lies to win votes,” she said.

Business Closures and Economic Decline

Sirikanya further argued that under Paetongtarn’s leadership:

• 11% of businesses have shut down, while only 4% of new firms have been registered.
• Employment rates remain high, while SMEs struggle with mounting debt.
• The stock index has declined due to poor economic management.

She also cast doubt on the government’s claim that it would achieve 3.5% GDP growth, arguing that the administration continued to rely on ineffective stimulus measures.

“The government lacks a comprehensive economic plan and relies on superficial, short-term fixes,” Sirikanya said.

Deputy PM Defends Government’s Economic Plan

In response, Deputy Prime Minister and Finance Minister Pichai Chunhavajira defended Paetongtarn’s administration, arguing that the government was actively working to revive the economy.

He refuted Sirikanya’s claim that people had lost faith in the government, stating that the administration was offering hope through various stimulus measures.

Pichai noted that Thailand had experienced years of economic stagnation, with GDP growth of only 1.9%.

However, he said the Paetongtarn government was now targeting 3% growth and making progress towards achieving this goal.

“In the past six months, we have already seen 3.1% growth, so I am confident we can reach 3% by the end of 2025,” he said.

Government Plans to Boost Investment and Agriculture

Pichai added that the government was working to address key economic issues, including:

• Encouraging farmers to switch to high-value crops to counter falling rice prices.
• Restructuring old structures to draw foreign investments.

He emphasised that major economic reforms take time and cannot be completed within a single year.