Bangkok:Deputy Prime Minister and Minister of Finance Ekniti Nitithanprapas has outlined a new strategy aimed at bolstering the Thai economy. The plan, titled "Thailand Next Economy 2027," was introduced during his keynote address at the CEO Econmass Awards 2026, organized by the Economic Journalists Association.
According to Thai News Agency, Ekniti's strategy emphasizes tackling structural economic issues, maintaining fiscal discipline, and leveraging artificial intelligence to increase income for small retailers. He also announced his intention to propose a plan to the Cabinet on October 26th to promote solar rooftop installations, intended to reduce electricity costs and enable citizens to sell excess electricity, with financial backing from state-owned banks.
The strategy was presented against the backdrop of Thailand's recent hosting of the IMF-World Bank Group Annual Meetings 2026, which Ekniti highlighted as a testament to Thailand's global role and potential. The event was praised by Kristalina Georgieva, Managing Director of the International Monetary Fund, who awarded Thailand the gold medal at the Financial Olympics and commended the country's development model based on the Sufficiency Economy Philosophy of King Bhumibol Adulyadej.
Addressing current global economic challenges, Ekniti identified five key areas of concern global polarization, high interest rates, the necessity for fiscal discipline, the impact of AI technology, and climate risks. He emphasized the importance of proactive risk assessment and the need to address longstanding structural problems such as public debt and economic leaks.
Ekniti highlighted the necessity for targeted policies to support vulnerable groups and low-income earners, citing the "Whispering Bird" program that utilizes AI to assist small business owners. He also stressed the importance of transitioning to clean energy, announcing upcoming Cabinet proposals for incentivizing solar panel installation to lower electricity bills and transform citizens into energy producers.
Furthermore, Ekniti underscored the need for investment in education and workforce skills development to attract foreign investment and enhance Thailand's competitiveness. He pointed to a 23 billion baht investment in the food industry as an example of Thailand's potential to become a food production hub, facilitated by collaboration between the government and universities to align workforce skills with business sector needs.
Concluding his address, Ekniti called for cooperation across all sectors to ensure a "Second Take-off" for the Thai economy, emphasizing fiscal discipline, human resource investment, energy transition, and structural reform as essential components for achieving stable and sustainable growth.