Thailand’s PM speeds up stimulus measures to boost domestic spending

Thailand’s PM is speeding up economic stimulus measures to continue the effort to boost domestic spending throughout the year. In a meeting yesterday, PM Prayut Chan-o-cha told the Finance Ministry to push forward the rollout of the 3rd phase’ co-payment scheme, financial relief scheme and the Section 33 We Love Each Other programme.

Deputy PM Supattanapong Punmeechaow, noted that the co-payment scheme needs to be rolled out by June of this year to keep domestic tourism afloat. He cited a report that found such stimulus measures were helping the economy.

In the co-payment scheme, the government pays 50% of food, drinks and general goods purchases of up to 150 baht per person per day, capped at 3,500 baht per person for a specified duration. The first phase covered 10 million people, each receiving a 3,000 baht money transfer. The second phase, which ends on March 31, is paying…