Thailand’s slumping economy is new leader Paetongtarn’s focus in her first parliamentary speech

BANGKOK (AP) — Thailand’s new Prime Minister Paetongtarn Shinawatra vowed Thursday in her inaugural speech to Parliament to continue many of her predecessor’s plans to solve the country’s economic woes.

Paetongtarn, the leader of the ruling Pheu Thai Party and daughter of former Prime Minister Thaksin Shinawatra, took office last month after a court ousted Srettha Thavisin from his post over an accusation that he had violated an ethics law by appointing a Cabinet member who had served time in prison in connection with a bribery case.

Pheu Thai formed a government headed by Srettha after members of the conservative Senate refused to endorse the prime minister nominated by the progressive Move Forward Party, which won the most seats in last year’s general election.

Thailand is facing several economic challenges and Paetongtarn said Thursday her government will urgently address the issues of high household debt, the rising cost of living and lagging incomes “to bring the hope of Thai people back as soon as possible.”

Among the government’s more immediate plans are measures to relieve household debt and reduce the rising cost of electricity, petrol and transport, as well as to boost tourism and bring new technologies to the agricultural sector, she said.

Paetongtarn said the government will generate new income by legalizing and taxing the “informal economy” and the “underground economy.” Although she provided no details, it was an apparent reference to plans to legalize casinos, which are being promoted as “entertainment complexes” that can attract revenue windfalls.

The draft of the law, sponsored by the Finance Ministry, says a casino would be allowed to operate within a complex that also houses other businesses such as a