New stimulus economic packages to help all sectors affected by coronavirus

(Photo) Facebook/Finance Minister Uttama Savanayana

Thailand’s Finance Ministry is to roll out a new set of stimulus measures to help all sectors of Thai society currently affected by the COVID-19 situation, which has hit at the same time as an economic slowdown, an export slump and drought.

Finance Minister Uttama Savanayana said today that the first package will be proposed to economic ministers on Friday, after which it will be forwarded to the cabinet for finalization, adding that he expects the package, if it is approved, to start to bear fruit in June or July this year.

The stimulus package will include a 1,000 baht per month grant to all low income earners, including farmers, office workers and independent entrepreneurs, to help them meet their cost of living through this unsettled period.

Mr. Uttama said that the 1,000-baht will be wired into the PromptPay accounts of the recipients so that they can spend it on essential items, adding that over 14 million people, already classified as low-income earners, will receive the money.

He said that the stimulus package will also cover support for the stock market and business operators in the form of tax breaks.

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