Thailand: Government’s economic stimulus campaign a success

Bangkok (NNT/VNA) - The third phase of the Thai government’s Chim, Shop, Chai (Taste, Shop, Use) economic stimulus campaign is considered a success, with spending via the g-Wallet 2 reaching 13 billion baht.

The Director of the Fiscal Policy Office (FPO), Lavaron Sangsnit, as the Spokesman for the Ministry of Finance, said that 11,794,825 participants in the three phases enjoyed the privileges between September 27 and December 17 this year. Total spending via both the g-Wallet 1 and 2 balances amounted to 24.78 billion baht, of which 11.63 billion baht was from the 1,000-baht cash handout into the g-Wallet 1 balance. Participants also spent their own money, totaling 13.15 billion baht, in the g-Wallet 2 balance. The campaign was successful in increasing the circulation of money in the economy.

Thanks to the overwhelming response from the public, Krungthai Bank (KTB) has extended its campaign to stimulate spending.

Participants in the three phases are now eligible for privileges until January 31, 2020. They are eligible for a 20 percent cash rebate on 50,000 baht spent, with up to 8,500 baht available as cashback. For every 1,000 baht spent, the recipients have a chance to win more than 500 prizes totalling 12 million baht in value. For those with accumulated spending via their g-Wallet 2 balance throughout the three phases, have a chance to win grand prizes, such as cars and pickup trucks.

Registered vendors with receipts of 100 baht or higher can participate in this lucky draw. The prizes will be drawn on six occasions, starting on December 20.

Since December 14, the Comptroller General’s Department has transferred 384 million baht to 153,579 participants in the cashback scheme. The department is still verifying the qualifications of those who have yet to receive their cashback rewards./.