Thai government happy with results of economic stimulus measures

A spokesman says officials are pleased with the results of 4 economic stimulus measures introduced by the government. Thanakorn Wangboonkongchana says over 41.3 million citizens have spent over 223.82 billion baht, thanks to the 4 schemes, describing the results as satisfactory.

The stimulus campaigns were introduced during the Covid-19 pandemic in an attempt to boost the economy and help those who were struggling financially. The schemes include Khon La Khrueng (Let’s Go Halves), a government co-payment scheme and Ying Chai Ying Dai (The More You Spend, The More You Get).

In phase 3 of Khon La Khrueng, total spending came to 194.85 billion baht, made up of 99.07 billion baht from 26.27 million consumers, while 95.78 billion baht came from the government. Under the Ying Chai Ying Dai scheme, total spending was 3.76 billion baht from 91,952 people, in addition to a further 241.8 million baht via e-vouchers. A government subsidy for welfare cardholders led to total spending of 22.93 billion baht by 13.55 million people, while a subsidy for Thais in need of special assistance, created spending of 2.03 billion baht by 1.47 million people.

According to a Nation Thailand report, Thanakorn says the PM is satisfied with the results of each subsidy scheme and is optimistic more cash will be spent during the end-of-year festivities.

“The premier is satisfied with the state of the economy in the latter part of the year, as it shows signs of recovery after the country re-opened. Also, most venues have passed the Covid-19 hygiene and safety standards. We expect Thais to travel across the country and spend more cash during the New Year break.”

A recent poll shows that most Thais have no plans to travel over the New Year period, as concerns about the Omicron variant take hold. Both the Khon La Khrueng and Ying Chai Ying Dai schemes will run until the end of the year with Thanakorn saying they will boost the economy while helping those who are struggling financially.

“We believe these projects help ease the financial burden on people and circulate funds in the country.”

SOURCE: Nation Thailand