Let’s Go Halves to boost Q4 economy with projected 50 billion baht in circulation
The economic stimulus package "Khon La Khrueng" (Let’s Go Halves), introduced by the new government, is expected to revive the Thai economy in the fourth quarter of 2025, according to the University of the Thai Chamber of Commerce (UTCC).
The programme is expected to benefit entrepreneurs, community shops, consumer goods producers, and the general public, said Thanavath Phonvichai, president and chief adviser of UTCC's Economic and Business Forecasting Centre.
The government’s budget of 25 billion baht for the first phase of the initiative is projected to generate a circulation of up to 50 billion baht in the economy, marking a significant step towards economic recovery.
The spending period is set to last three months, ending in Q4 2025. If the government wishes to continue stimulating the economy, it could utilise the mid-year budget for 2026, aligning with the government’s four-month tenure.
However, Thanavath suggests that in order to maintain continuous economic growth, the government should increase the budget for the Let’s Go Halves scheme by another 50 billion baht. This would potentially double the circulation to 100 billion baht and result in a 2-3% GDP growth in Q4, as opposed to the previously expected 1-2%.
Regarding the details of the programme, such as the 60:40 tax-paying group and the 50:50 group for those aged 16 and above, Thanavath believes this structure is appropriate as it incentivises more Thai people to enter the tax system. Currently, only 4 million people pay taxes, out of a total of 11 million in the taxable population.
In terms of GDP growth for 2025, Thanavath predicts Thailand’s economy will grow by 2-2.5%, up from the previous estimate of 2%.
This improvement is expected to be driven by consumption-boosting measures, the accelerated disbursement of the 2026 budget in Q4, and the tourism sector's recovery, which should meet the target of 34 million foreign visitors.
Thanavath also commented on the credibility of the new economic Cabinet under Prime Minister Anutin Charnvirakul, praising the ministers for their expertise in handling complex economic matters.
He specifically highlighted the Finance Minister’s understanding of the Ministry of Finance’s operations and his experience in global-level policymaking, as well as the Commerce and Energy Ministers’ backgrounds in managing complex private-sector companies.
These qualifications, he believes, will help implement sophisticated economic policies and continue tariff negotiations with the United States.
