Thailand Unveils Additional $ 4.5 Billion Stimulus Package | World

The Thai economy is facing strong headwinds from the latest COVID-19[female[feminine epidemic (Photo: AFP)

Bangkok (VNA) – The Thai government on June 1, approved a new 140 billion baht (US $ 4.5 billion) economic stimulus package to mitigate the economic impact of the COVID-19 pandemic.

The country is struggling to cope with its last coronavirus outbreak since April, which has led to a significant rise in infections and deaths, tighter social distancing restrictions and a sharp economic contraction.

Finance Ministry spokeswoman Kulaya Tantitemit said the stimulus measures are designed to provide relief to those hard hit by the pandemic and boost domestic consumption.

The measures, which are expected to be implemented between July and December this year, consist of cash rebates, user fees and electronic vouchers.

Some 93 billion baht of user fees are planned to support up to 31 million people, while 16.4 billion baht and 3 billion baht are intended to be distributed in cash to citizens receiving social assistance and to disabled people respectively.

In addition, an additional 28 billion baht will be distributed in the form of electronic vouchers to middle and upper income groups.

Thailands COVID-19 tally now stands at 162,022 cases, with more than 130,000 confirmed since April./.

VNA


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