Thailand’s $13.53 Billion Stimulus Scheme: Broadly Targeted to Boost the Economy or Criticized for Not Helping Vulnerable Groups?

In Thailand, the government’s 500 billion baht ($13.53 billion) handout scheme is being viewed as a stimulus measure aimed at boosting the economy, rather than specifically targeting vulnerable groups. According to Paopoom Rojanasakul, secretary to the finance minister, this is the case even though there have been concerns raised by the central bank about the need for targeted assistance. The central bank had mentioned at a press conference earlier that it had no objection to stimulus measures but preferred them to be targeted for specific groups.

However, the finance ministry official clarified that the stimulus measures are intended to support the broader economy and encourage growth. By providing financial support through this scheme, the government hopes to stimulate economic activity and aid in the country’s recovery from the impact of the COVID-19 pandemic. Despite some reservations expressed by other government agencies, such as concerns raised by Central Bank of Thailand Governor Veerathai Suwanaratanaotai, Finance Minister Udaya Savarimayakumar has remained committed to implementing measures that will benefit the economy as a whole.