Thailand's Thaksin to announce policy

Thaksin Shinawatra formed a three-party coalition

BANGKOK, Thailand -- Thailand's incoming Prime Minister Thaksin Shinawatra said he plans to announce the policy of his three-party coalition government in parliament late February.

Thaksin told reporters on Thursday he expected to nominate his 36-member cabinet to Thai King Bhumibol Adulyadej for approval by February 14.

The 51-year-old telecoms tycoon, whose Thai Rak Thai (Thais Love Thais) Party won a landslide victory in the January 6 election, said on Wednesday he would likely be elected prime minister next week.

Thaksin formed a three-party coalition on Wednesday to secure control of the Thai parliament just as unofficial results from by-elections showed his party might not win an overall majority on its own.

Thai Rak Thai has agreed to form a coalition with the New Aspiration Party of former Prime Minister Chavalit Yongchaiyudh and the Chart Thai (Thai Nation) Party of former Premier Banharn Silpa-archa.

Thaksin's coalition will control more than 320 seats in the 500-member lower House of Representatives.

Critics have said Thaksin's populist, big spending economic programs could widen government budget deficits in the next few years.

The Thai Rak Thai leader has pledged to launch a state-funded national asset management company to buy bad assets from commercial banks.

Reuters contributed to this report.

See related sites about Asia

Note: Pages will open in a new browser window

External sites are not endorsed by CNN Interactive.