Economics
Thailand Passes $7 Billion Handout to Weather New Virus Impact
- More than 30 million people set to benefit from new package
- Cash support to boost GDP by as much as 0.6 percentate point
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Thai cabinet signed off on a $7 billion cash handout program to help millions of low-income people weather the impact of control measures imposed to contain a new wave of Covid-19 infections.
An estimated 31.1 million people, including welfare-card holders, farmers and informal sector workers, will benefit from the direct cash transfer. The financial assistance is seen boosting gross domestic product by 0.5 to 0.6 percentage point, Finance Minister Arkhom Termpittayapaisith said Tuesday. Taken together with a previously announced co-payment program, government spending will bolster growth by 1 percentage point, he said.