BANGKOK (Reuters) – Thailand’s government will implement the third phase of its 450 billion baht ($13.4 billion) stimulus scheme in the second quarter of 2025, and will also discuss more measures later this month, a deputy finance minister said on Wednesday.
The “digital wallet” handout scheme and other government measures will help spur the economy this year, Julapun Amornvivat told reporters.
The digital wallet scheme provides 10,000 baht ($300) each to an estimated 45 million people to spend in their localities within six months. So far about 17.5 million people have received payments since it started last September.
The third phase of the handout, which Julapun has previously said would start in April, will be discussed along with other economic measures at a meeting chaired by the prime minister, he said.
“The first two phases of the scheme have stimulated the economy well,” Julapun said.
Bank of Thailand Governor Sethaput Suthiwartnarueput told Reuters last week that the impact of the handouts and other stimulus was less than expected and that growth this year could miss the central bank’s forecast of 2.9%.
The finance ministry has predicted growth of 3% for 2025.
($1 = 33.72 baht)
(Reporting by Kitiphong Thaichareon and Orathai Sriring; Editing by John Mair)
Comments