Thailand’s Finance Minister, Pichai Chunhavajira, has announced the approval of a THB 115 billion economic stimulus package aimed at revitalising the country’s lagging economy. The Economic Stimulus Project Policy Committee authorised the money, which marks the first part of a bigger THB 157 billion framework.
A large portion of the funds—roughly 70%—will be directed towards critical infrastructure projects, with a focus on water management and transportation development. These programs seek to solve pressing concerns such as flood and drought control while also enhancing road connections between primary and secondary cities.
An additional 10%, roughly THB 10.53 billion, is committed to boost tourism-related activities. The remaining money will be directed towards other sectors, including education and initiatives to mitigate the impact of US tax policies. The Ministry anticipates that this initial tranche will increase the national GDP by 0.4-0.5%. If the full THB 157 billion is deployed, the estimated growth rate might reach 0.6%.
However, proposals totalling more than THB 42 billion proposed by local administrative bodies were denied due to duplication and a lack of ministerial permission. These will be further revised.
