The finance ministry has announced that Thailand will be implementing a 500 billion baht ($13.53 billion) handout scheme to stimulate the economy. While the plan is not specifically designed to help vulnerable groups, it aims to boost overall economic growth and activity.
During a press conference earlier in the day, Paopoom Rojanasakul, the secretary to the finance minister, clarified that the central bank had raised concerns about the handout plan in response to a news report suggesting that it had sent a letter asking for a reconsideration of the plan. The central bank emphasized that while it supported stimulus measures, it preferred a targeted approach and urged ensuring that funds are directed towards initiatives with the most impact on economic recovery.
The exchange rate at the time of reporting was $1 = 36.9500 baht. The finance ministry and central bank are working together to address economic challenges facing Thailand and ensure that stimulus measures are effective in driving economic growth.
