Thailand’s 500 billion baht Handout Scheme: Economic Boost or Targeted Assistance?

The 500 billion baht ($13.53 billion) handout scheme in Thailand 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. In response to a question about a news report suggesting that the central bank had raised concerns about the handout plan, Rojanasakul made this statement.

While there have been concerns raised by the central bank about the need for targeted assistance, the government is committed to implementing measures that will benefit the economy as a whole. The goal of the handout scheme in Thailand is to provide an economic boost rather than focusing solely on helping vulnerable populations. The finance ministry official emphasized that the stimulus measures are intended to support the broader economy and encourage growth.

The central bank has mentioned at a press conference earlier that it had no objection to stimulus measures but preferred them to be targeted for specific groups. However, Rojanasakul clarified that the overall goal is to boost the economy and provide financial support through this scheme, hoping to stimulate economic activity and aid in Thailand’s recovery from the impact of COVID-19 pandemic.