Thailand to spend over 1.6 billion USD boosting domestic consumption
Thailand has unveiled a three-month stimulus package worth 51 billion THB (1.63 million USD) to boost domestic consumption and support the COVID-19-hit economy.
Social distancing is practiced at a mobile phone store in Bangkok, Thailand (Photo: VNA)Bangkok (VNA) – Thailand has unveiled a three-month stimulus package worth 51 billion THB (1.63 million USD) to boost domestic consumption and support the COVID-19-hit economy.
The stimulus package, introduced by Thailand's Centre for Economic Situation Administration, will cover 24 million mainly low-income people via two schemes.
In the first scheme, 14 million welfare cardholders will receive an extra monthly discount of 500 THB from October to December on their shopping. The budget for this scheme is 21 billion THB.
In the second scheme, worth 30 billion THB, 10 million people will get daily discounts of up to 50 THB on food, beverages and household essentials, excluding alcohol, tobacco or lottery tickets. The subsidy is capped at 3,000 THB per person. Thai citizens aged 18 or over can register online.
Registration is scheduled to open on October 16.
Despite the country’s relatively effective containment of COVID-19, the pandemic’s impact on the Thai economy has been more severe than expected and economic recovery remains elusive, with annual GDP poised to shrink by 8 percent, according to the Asian Development Bank (ADB).
The economy contracted 12.2 percent in the second quarter compared to the same period last year, the sharpest fall since the Asian financial crisis in 1998./.
You should also see
Vietnamese Deputy PM, Venezuelan President hold talks
Vietnamese Deputy Prime Minister Tran Luu Quang held talks with President of Venezuela Nicolás Maduro Moros in Caracas on April 18, as part of his ongoing official visit to the Latin American country.
See more
World
ASEAN foreign ministers call for end to Myanmar violence
ASEAN foreign ministers on April 19 issued a statement calling on all parties to immediately cease violence and exercise maximum restraint in the border areas of Myanmar.
World
Indonesia’s Mount Ruang continues to emit ash
After a series of eruptions earlier this week that forced thousands to evacuate, Mount Ruang in North Sulawesi, Indonesia, continued to emit ash on April 19 afternoon.
World
Thailand gives financial support to Laos for road maintenance
The Thai cabinet has approved 1.8 billion THB (about 48.8 million USD) in financial assistance for the Lao Government to maintain and improve Highway R12, shortening the travel time from Thailand’s Nakhon Phanom province, through Laos, to the Vietnamese border in central Quang Binh province.
World
Indonesia develops sustainable tourism
Indonesia has been working to realise its goal of building a quality, sustainable and environmentally friendly tourism industry.
World
Vietnam to have many opportunities from digitalisation, green transformation: IMF
The International Monetary Fund (IMF) has forecasted that Vietnam will have many opportunities from digitalisation and green transformation, according to IMF Asia and Pacific Department Director Krishna Srinivasan.
