Picture courtesy of Bangkok Post
Deputy Finance Minister Paopoom Rojanasakul unveiled a whopping 145 billion baht ((US$4.4 billion) cash handout scheme that promises to rev up the economy before the year’s end.
..
Deputy Finance Minister Paopoom Rojanasakul unveiled a whopping 145 billion baht ((US$4.4 billion) cash handout scheme that promises to rev up the economy before the year’s end. This mega injection is set to turbocharge the nation’s GDP by a tidy 0.3 percentage points. And it’s not just a flash in the pan, the economic boost is expected to keep rolling strong into the first quarter of next year!
The government is preparing additional stimulus measures to sustain economic growth, encouraging increased spending towards the year’s end.
Paopoom noted that the government initially forecasted GDP growth of 2.6 to 2.7% for this year, excluding the impact of the stimulus scheme.
The 10,000-baht (US$300) handout to recipients should result in additional economic growth of 0.3 percentage points, with effects likely extending into early next year, he…