Bangkok (VNA) – The Thai cabinet has approvedthe distribution of additional 54.5 billion baht (1.63 billion USD) to ease difficultiesfacing people affected by COVID-19 pandemic and to boost domestic consumption.
The new measures, which will be funded bythe second 500-billion-baht emergency loan decree, will primarily support fourschemes, Thai Government spokesman Thanakorn Wangboonkongchana was quoted by local media as saying.
They comprise the third phase of the co-payment subsidyscheme (42 billion baht); cash handouts to low-income earners who hold statewelfare cards (8.12 billion baht) and vulnerable people who need specialassistance such as the elderly, the disabled, bed-ridden patients and thosewithout smartphones (1.38 billion baht); and a consumption encouragement schemeworth 3 billion baht.
Alongside, the Thai cabinet also approved a package of 37.5 billion baht tohelp local firms retain 4.2 million jobs.
Earlier this year, the Thai Government passed a plan toborrow 500 billion baht to reduce impacts of the pandemic. The Bank of Thailandpredicted that the country’s economic expansion may reach only 0.7 percent thisyear.
Meanwhile, Pisit Puapan, director of the Bureau ofMacroeconomic Policy predicted that Thailand’s economic growth may reach 1.3percent this year, as forecast by the Fiscal Policy Office (FPO)./.
The new measures, which will be funded bythe second 500-billion-baht emergency loan decree, will primarily support fourschemes, Thai Government spokesman Thanakorn Wangboonkongchana was quoted by local media as saying.
They comprise the third phase of the co-payment subsidyscheme (42 billion baht); cash handouts to low-income earners who hold statewelfare cards (8.12 billion baht) and vulnerable people who need specialassistance such as the elderly, the disabled, bed-ridden patients and thosewithout smartphones (1.38 billion baht); and a consumption encouragement schemeworth 3 billion baht.
Alongside, the Thai cabinet also approved a package of 37.5 billion baht tohelp local firms retain 4.2 million jobs.
Earlier this year, the Thai Government passed a plan toborrow 500 billion baht to reduce impacts of the pandemic. The Bank of Thailandpredicted that the country’s economic expansion may reach only 0.7 percent thisyear.
Meanwhile, Pisit Puapan, director of the Bureau ofMacroeconomic Policy predicted that Thailand’s economic growth may reach 1.3percent this year, as forecast by the Fiscal Policy Office (FPO)./.
VNA
