Thailand plans US$7.2 billion stimulus to help low-income group

The Thail government plans to disburse a stimulus of 85.5 billion baht (US$2.8 billion) to the low-income group, providing financial relief to them amid the pandemic.

The Cabinet gave in-principle approval for the fiscal stimulus measures, and also proposed 140 billion baht (US$4.5 billion) for co-payment and e-voucher programmes, as well as more cash handouts to special groups and welfare cardholders to boost domestic consumption, according to officials, reports Bloomberg.

Prime Minister Prayuth Chan-Ocha said that these measures will be taken up by the Cabinet for approval in the coming weeks. 

The Cabinet also approved low-interest rate loans worth 20 billion baht (US$0.64 billion) from state-owned banks, a 12.6 billion baht (US$0.41 billion) budget for the Health Ministry to handle the country’s third wave of infections, and extended the tax incentives for companies hiring former prisoners until the end of this year. 

READ: Thailand considers new relief packages for workers and businesses

“The government will implement the second-phase measures once the outbreak is contained possibly during July-December,” said the Prime Minister. “We expect these measures will cover 51 million people and generate 473 billion baht in the economy.”