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Government to stir economy with 100 billion baht stimulus starting in October

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The Thai Government is expected to stimulate the economy with 100 billion baht boost starting in October until the end of the year. The injection will reportedly come from both the people’s and the government’s spending under three stimulus measures according to the Deputy PM Supattanapong Punmeechaow.

The first measure will reportedly give 14 million welfare cardholders an extra 500 baht discount over the next 3 months on their shopping with the budget for this measure totalling 21 billion baht.  The second measure, dubbed “Kon La Khreung” or Let’s Go Halves, will give 10 million people up to 100 baht discounts daily on beverages and household essentials with the subsidy being capped at 3,000 baht per person.  The scheme will not, however, include such things as alcohol, tobacco or lottery tickets.

The third measure is aimed at wealthier Thais as tax incentives and will be offered in an effort to encourage them to spend more as consumers.  The Cabinet has also approved a measure to pay 260,000 new graduates half of their salary to help the private sector.  That budget is reportedly totaling 19.5 billion baht.

Supattanapong also predicts the economy will improve next year but warns it could take 2 years before the nation’s economic growth returns to the pre-Covid level.  He says the country’s current budget is sufficient to boost the economy unless there is a second wave of Covid.

“But in the event that there is a second wave, the government is prepared to borrow more as its national debt is quite low compared to other countries. However the government is being cautious so it can remain financially healthy in the post-Covid era.”

SOURCE: Nation Thailand

 

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6 Comments

6 Comments

  1. Sam

    Saturday, September 26, 2020 at 4:39 pm

    Hang on ! There was an announcement 2-3 months ago of 1.3 trillion baht stimulus. What happened with that ? Printing presses working overtime

    • lootarzoon

      Sunday, September 27, 2020 at 10:21 am

      Between end March & End Dec, country will finally lose 1,4 to 1,5 Trillions as foreign tourism disapeared. Not counting the sides not accounted small revenues of undeclared shops leaving from it… 100 billion is a plaster on a wooden leg, open up the country and FAST….

  2. Whiro

    Saturday, September 26, 2020 at 5:09 pm

    “But in the event that there is a second wave, the government is prepared to borrow more as its national debt is quite low compared to other countries. However the government is being cautious so it can remain financially healthy in the post-Covid era.”

    LMFA !! They are saying this when their citizens are so freaking UNHEALTHY financially RIGHT NOW. Instead of borrowing, why don’t they just go knock on the King’s bedroom door and ask for a donation, maybe for 1% of what he has.

  3. rinky stingpiece

    Saturday, September 26, 2020 at 9:32 pm

    What a waste of time. Why not offer them free training in skills that are in demand?

  4. Crispy Fruitcake

    Sunday, September 27, 2020 at 10:14 am

    The immediate need is to set up a national delivery service to get 76 million people inoculated against covid in, say, one month from the date the vaccine is released.

  5. Patrick Nouvel

    Sunday, September 27, 2020 at 10:28 am

    Unless a second wave of Covid ? The first one remain to be seen with much less casualy than a seasonal flu … Good job by the way but non sense on the Economy side especially over the tourism mishandled sector on the immigration measures…

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