Thai govt fires up 44 billion baht cash splash to boost spending
New digital wallet initiative aims to stimulate local businesses
Thailand’s government has launched a nationwide co-payment scheme to boost consumer spending and support economic growth in the final quarter of the year.
The Khon La Khrueng Plus programme, officially launched today, October 29, aims to boost domestic spending and soften the blow of a projected Q4 slowdown. Finance Minister Ekniti Nitithanprapas said the initiative is expected to lift GDP growth from 0.3% to around 1%.
The government has earmarked 44.4 billion baht for the campaign. Participants will receive either 2,000 baht (non-taxpayers) or 2,400 baht (taxpayers), which can be used until 11pm on December 31. Daily spending is capped at 200 baht, with the state covering half of each transaction.
“The public response has been overwhelming.”
Ekniti said that all 20 million registration slots had been filled, while approximately 190,000 applications were rejected, mostly from welfare cardholders already receiving government support.
To date, nearly 600,000 businesses have signed up to accept payments via the scheme. Registration remains open until December 19. Eligible vendors include small retailers, spa and massage operators, and licensed public transport drivers.
To broaden reach, vendors can now partner with delivery platforms. Four to five major apps have joined, offering small traders greater exposure and logistics support. These platforms have also slashed their gross profit fees from 30% to just 5% to encourage participation.
Ekniti added that the scheme doubles as a digital training opportunity for small vendors, with sellers gaining access to the government’s Sell Online Successfully programme.
Retailers are already anticipating a surge in consumer activity. Nath Vongphanich, president of the Thai Retailers Association, said sales are expected to rise by at least 10%, particularly in provincial stores and everyday consumer goods.
Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce, projected the scheme could inject over 59 billion baht into the economy.
Government spokesperson Siripong Angkasakulkiat confirmed that funds can be spent from today, with activation required by November 11. Food delivery payments via the Pao Tang app will be available from November 7, according to Bangkok Post.
Users must link their G Wallet on the app and can top it up through mobile banking, PromptPay, linked Krungthai Bank accounts, or ATMs using the wallet ID.
Siripong urged small businesses to join, noting the programme supports both short-term sales and long-term digital growth.
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