The Thai government has announced a USD 14 billion stimulus plan to boost the country’s economy. The plan is being implemented in phases, with the first phase already underway.
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The Thai government has announced a USD 14 billion stimulus plan to boost the country’s economy. The plan is being implemented in phases, with the first phase already underway.
The plan is set to enable 45 million individuals to each receive 10,000 baht, which is anticipated to boost economic activity.
Key takeaways
Thailand’s USD 14 billion plan will distribute 10,000 baht to 45 million people, boosting economic activity.
Funds will be distributed via a smartphone app to encourage local spending, but the plan has faced criticism for being fiscally irresponsible.
Thailand aims to become a cashless society by 2024, focusing on openness, inclusivity, and resiliency to enhance financial services.
The first phase of the plan will distribute 10,000 baht in cash to 14.5 million social welfare cardholders and disabled individuals.
The Thai government will use this as a tool to boost local…