The Nation
Dear fellow citizens,
The House of Representatives has now convened. His Majesty has granted a royal command, graciously appointing the Speaker and the deputies. Soon the House will be meeting to select the new prime minister and a new Cabinet will be formed.
I would like to take this opportunity to reassure the Thai people that during this transitional period, my government is doing everything to ensure a smooth hand-over. There are important tasks that need to be carried out in the coming days, including the royal cremation of HRH Princess Bejaratana. Also, there are several provinces experiencing floods. For this, my government has already initiated the process of closely monitoring the situation and preparing the information needed by the new government. Again, I would like to assure you that all the work will continue smoothly during this period.
Given that a new government has the right to formulate policies it deems suitable for the country, before handing over the administration, I would like to inform you that my government has made it conducive for the incoming administration to continue addressing ongoing problems for the Thai people.
Given the rise in price of consumer goods, cost of living, the continued economic uncertainty in the US and Europe, the fluctuation in oil price and other economic concerns, I would like to assure you that our country's economic situation and financial foundation is very stable and sound.
Our foreign reserve now stands at US$180 billion, which is large and represents an increase of $70 billion. This is also the 13th largest foreign reserve in the world, which underscores the fact that our government's financial standing is strong. This is because our exports, tourism and income-generating activities allowed the economy to grow in a robust manner. So far this year we have collected Bt200 billion more in income tax than we aimed for. As for the national reserve, we now have Bt300 billion - about Bt50 billion more than when I first took office. This is another good financial foundation upon which the new government can base their financial policies.
For the overall economic figures, the debt-to-GDP ratio has continuously dropped under my administration, and now stands at about 40 per cent. This is a very low ratio compared to other countries - another guarantee that we will have financial flexibility in the coming years. Our employment situation is also encouraging, with the unemployment rate at a historic low. Regarding the oil price, my government has put in effective mechanisms to handle the fluctuations. The current status of the Oil Fund together with the continuation in pegging the diesel price at no more than Bt30 per litre will allow the oil fund to continuously receive income, and the fund level will not be in a minus zone in the next two months or so.
All this is a guarantee that the new government will have flexibility, financial and fiscal tools and mechanisms that can be utilised to address various economic situations in an efficient and appropriate manner.
When I first came into office, I used to say that our economic situation was like a "house on fire". Now, we have put out this fire, made progress in looking after people living in the house and also made our house stronger. As far as looking after the people is concerned, we have laid down a system to provide assistance and care in the form of social welfare. My government had set 2016 as a target date to have in place a comprehensive social welfare system. As we can see, free education, free healthcare and the provision of care for various groups, such as the disabled and the elderly, have already been implemented. Yet we still have to accept the disparity in our society, which is a structural problem. We have set up several independent committees that have provided many recommendations, which are now being considered by various government agencies. I hope the new government will consider these recommendations so we can move toward a fairer and more equitable society.
On the international and security front, it is clear that the international community has more confidence in our country. After a peaceful general election, Thailand will be able to accomplish important tasks. I hope the new government will continue this momentum and lead our country to successful bids in hosting global events.
As for the neighbours, our relations have been smooth, except for the dispute with Cambodia. On this particular issue, I think we share the same goal - preserving good relations while at the same time we have to stand ready to protect our country's rights and sovereignty. The standing issue is the case that Cambodia has taken to the International Court of Justice. My government has already fought the request Cambodia filed with the court for Thailand to unilaterally withdraw its troops. It is hoped that the next government will continue to fight this case and successfully protect Thailand's national interest.
Besides these problems, issues that affect our security also need to be addressed. On the unrest in the South, we have passed a new law on the restructuring of the Southern Border Provinces Administration Centre, which has been accepted both at the domestic and international fronts. Of course, violence still persists and it is incumbent on the new government to continue working on this and implementing policies aimed at long-lasting peace.
The other issues that the new MPs have to address include drugs and long-standing social problems. The general election is a step toward democracy and I fervently hope that the new government will work to promote unity. My government has always respected the judicial process, which has the final say in our system. I hope the new government will continue with this principle, and leaving political conflicts to be dealt with through the parliamentary process. As for other institutions not involved in politics, they should be kept above conflicts.
In closing, I would like to once again thank each of you for your assistance and cooperation in carrying out the work of my government and overcoming various crises, even though there are some problems that cannot be resolved at this time. I hope that what I have done will provide a firm foundation upon
which the incoming government can continue to work in order to bring happiness and prosperity to us all. Thank you very much.
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