Thai economy stimulus: Government plans 1.9 trillion baht boost during government transition

Thailand’s National Economic and Social Development Council (NESDC) unveiled plans to inject 1.9 trillion baht into the Thai economy to bridge the gap before the new government can budget for the year 2024, emphasising fiscal reforms and monitoring household debt.

Secretary-General Danucha Pichayanan highlighted the need for industry restructuring and government action in response to shrinking exports, which is affecting the whole region including Vietnam, Malaysia, and Indonesia. With an expected increase in foreign tourists and strong private consumption, the Thai economy is expected to remain healthy.

During the transitional phase awaiting the new government, the NESDC will focus on approving the annual budget bill for the year 2024, which should be completed by the first quarter of 2023 at the latest. Consultations with the Bureau of Budget and…