Thailand's Prime Minister Srettha Thavisin reads the policy statement at parliament in Bangkok, Thailand, Sept 11, 2023. (PHOTO / AP)

BANGKOK - Thailand's new Prime Minister Srettha Thavisin said on Friday he did not agree with allowing recreational use of cannabis, though its medical use would remain a policy under his administration.

Srettha was speaking in an interview with Thai digital news outlet, The Standard.

"Cannabis policy will be medical cannabis. On recreational use, I do not agree with that," he said.

Thailand's cannabis industry is projected to be worth up to $1.2 billion over the next few years, with thousands of businesses springing up since last year's legalization of the consumption and growing of the drug

The country's cannabis industry is projected to be worth up to $1.2 billion over the next few years, with thousands of businesses springing up since last year's legalization of the consumption and growing of the drug.

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Earlier this week, Srettha, who is also finance minister, unveiled a slew of economic policies aimed at boosting consumption and spending as recovery drags in Southeast Asia's second-biggest economy.

"This is a targeted policy, domestic spending will increase enormously," he said, referring to his signature policy of a 10,000 baht ($282.09) giveaway via digital wallet to all Thais.