Thailand works on third tranche of co-payment subsidy

Thailand’s Finance Ministry is currently working on its third phase of its co-payment subsidy scheme to help boost the recovery of the economy.

The ministry is deciding on the number of eligible recipients and the monetary allocation for each individual for the third phase of its handouts, said Krisada Chinavicharana, permanent secretary for finance, reports the Bangkok Post. 

The main difference between the handouts of the first two phases and the third phase is that the latter would allow for financial assistance for public services, such as public transport costs, he said, adding that the details have yet to be finalised. 

“The main reason we have to implement the third-phase co-payment scheme is we want to see continued momentum in Thailand’s economic recovery,” he said.

“The scheme has a multiplier effect that disburses to every segment, especially retail shops that have registered under the scheme, nearly 2 million shops. It also encourages people by paying for half of purchased goods and services, leading to more consumer spending,” he added. 

READ: Thailand sources 56,000 roles to help the unemployed

The government is currently deciding whether funding for the third phase of handouts should come from the 1 trillion baht (US$32.5 billion) emergency loan, the permanent secretary said.

He added that of that sum, already 600 billion baht (US$19.5 billion) allocated for public use has almost been depleted, with about 45 billion baht (US$1.46 billion) left.