Stimulating domestic demand has featured in strategies adopted by the Prayut Chan-o-cha administration, with a government budget of 200 billion baht spent in its efforts to offset the downturn caused by Covid-19.
Although the pandemic has forced governments worldwide to devise fiscal and monetary stimulus measures to mitigate adverse effects, the Thai government has had policies in place to boost demand since 2019 in an attempt to compensate for a decline in the country’s exports, which were crippled by the Sino-US trade war.
Initiated in September 2019, the “Eat, Shop, Spend” scheme enabled 10…
