Thai Cabinet approves THB140bn stimulus package amid new Covid-19 outbreak

• Thailand’s government approved a set of economic stimulus measures worth THB140bn to counter the impact from the nation’s biggest coronavirus outbreak yet.
• The measures – which include cash handouts to welfare card holders and special groups, co-payments and cash rebates – are expected to be implemented from Jul 21, Mr Anucha Burapachaisri, a government spokesman, said on 1 Jun 21.
• The latest aid is on top of an THB85.5bn package in May 21 that extended two cash handout programmes implemented.
• The two latest packages will be financed by borrowing under a THB1tr programme approved in Apr 20, Mr Anucha said.
• The latest measures, which target 51 million people, are expected to inject THB473bn both from government and private spending into the economy in 2H21, Ms Kulaya Tantitemit, head of the Fiscal Policy Office, said.
• The package announced includes:
• – THB93bn in co-payments for consumer purchases, targeted at 31 million people.
• – THB16.4bn in cash handouts to 13.65 million holders of welfare cards.
• – THB3bn cash handout to 2.5 million people considered members of special groups, such as the disabled.
• – A THB28bn cashback measure aimed at 4 million high-income people.

External Link : https://www.straitstimes.com/asia/se-asia/thai-cabinet-approves-59-billion-stimulus-package-amid-new-covid-19-outbreak