Thailand ready for new economic stimulus efforts

The Thai Finance Ministry is preparing additional stimulus measures, including plans to promote tourism and encourage spending towards the end of the year to contribute to speeding up the recovery of the economy, according to Deputy Finance Minister Julapun Amornvivat.

The economic stimulus package will include the second phase of the cash handout, for which the government allocated 187 billion THB (nearly $5.6 billion) in the 2025 budget, Julapun said.

He stated the payment system is being developed, adding that it was confirmed that registrants who used the government's app and passed the eligibility screening will each receive THB10,000 (nearly $300).

According to the official, tourism stimulus measures will target areas affected by flooding such as Chiang Mai and Chiang Rai. The preliminary plan allows expenses related to tourism and training seminars in these flood-affected areas to be claimed as a tax deduction, at twice the actual amount.

He said that with the gradual implementation of these measures, Thailand's economic growth next year is expected to exceed 3%, while this year's GDP expansion is projected at 2.7%.

The ministry is expediting investment promotion via the Board of Investment, particularly in Eastern Economic Corridor projects, while urging the Comptroller-General's Department to accelerate budget disbursement, he added.