Thailand Plans Cost-of-Living Package Even as GDP Growth Beats

Thailand’s top finance official said the government is preparing a package to address a looming cost-of-living crisis, even as economic growth handily beat estimates in the first quarter.

“We need to get ready for the storm that is building up,” Finance Minister Ekniti Nitithanprapas said, announcing that the cabinet will on Tuesday consider a package to tackle both rising costs and falling demand, which may cost about 200 billion baht ($6.1 billion). “Fiscal policy needs to take the lead in helping the economy as monetary policy may have some limitations,” he said.