PATTAYA, Thailand – The private sector has urged Thailand’s incoming government to make urgent economic and cost-of-living challenges its top priority, stressing the need for a professional economic team to restore public and investor confidence.
Kriengkrai Thiennukul, Chairman of the Federation of Thai Industries, stated that forming a competent government quickly is essential to maintain continuity in national administration and economic policy.
He noted that 2026 will be especially challenging for both the Thai and global economies. The private sector’s main concern is rising household debt, now nearly 90 percent of GDP and potentially reaching 104 percent with informal debt. This widening gap between income and expenses has significantly reduced purchasing power.
The Chairman identified several urgent issues requiring immediate attention, including rising non-performing loans among small and medium-sized enterprises, pressure on exports from a stronger baht, liquidity constraints due to tighter bank credit, and the growing influx of low-priced foreign goods, which has affected domestic competitiveness.
He emphasized that policy continuity is a major concern for businesses. Retaining an experienced economic team would support the rapid implementation of “quick big win” measures through ongoing cooperation with the Joint Standing Committee on Commerce, Industry and Banking.
The private sector also urged that anti-corruption efforts become a national priority, warning that corruption undermines economic efficiency and fiscal discipline.
The Chairman added that political stability depends on forming a government with a strong parliamentary majority to ensure effective policy implementation and sustained confidence. (NNT)
