Sunday, May 19, 2024
Homese asiaNew Thai government prioritises cash giveaways, tourist revenue to revive economy

New Thai government prioritises cash giveaways, tourist revenue to revive economy

BANGKOK – Faced with high household debt and lacklustre economic growth, the new Thai government will prioritise a 560 billion baht (S$21.5 billion) monetary giveaway and a series of short-term stimulus policies to “trigger” an economic recovery, Prime Minister Srettha Thavisin told lawmakers on Monday.

The Pheu Thai Party’s digital wallet plan promises a 10,000 baht giveaway, disbursed using blockchain technology to some 50 million Thais aged 16 and above. It will stimulate spending and cause a ripple effect that could revitalise South-east Asia’s second-largest economy, he said.

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