Ekniti upbeat 2025 GDP to grow at least 2.2% from stimulus packages
Ekniti Nitithanprapas forecasts GDP growth above 2.2% in 2025, fuelled by Let’s Go Halves Plus, welfare top-ups, and new Quick Big Win stimulus plans.
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas said on Tuesday that Thailand’s gross domestic product (GDP) would expand by more than 2.2% this year, boosted by the Let’s Go Halves Plus and welfare card schemes, as well as additional stimulus measures.
He said the government would soon roll out new “Quick Big Win” measures aimed at driving the economy and ensuring GDP growth of no less than 2.2% by the end of 2025.
Extra welfare payments to inject over 22 billion baht
As part of the stimulus plan, the government will increase monthly payments for 13.4 million welfare card holders to 850 baht in November and December, up from the usual 300 baht per month.
Ekniti said the two-month increase would inject 22.78 billion baht directly into the economy.
Let’s Go Halves Plus to pump 88 billion baht into economy
He added that the Let’s Go Halves Plus scheme, approved by the Cabinet on Tuesday, would require an additional 44 billion baht in government funds to support around 20 million eligible recipients.
Under the co-payment structure, participants will spend a matching amount of 44 billion baht, resulting in a total injection of 88 billion baht into the economy.
Combined with the welfare top-up, about 110 billion baht in total liquidity will be circulated nationwide before the end of the year, Ekniti said.
“The GDP in the fourth quarter will not contract because the cash from Let’s Go Halves Plus and the welfare payments will expand GDP by at least 0.6%,” he said.
New stimulus measures to boost fourth-quarter growth
Ekniti said the economy would receive further momentum from weekly stimulus measures to be announced throughout the fourth quarter, ensuring growth of at least 1% during the period.
He described Let’s Go Halves Plus as the government’s flagship policy for the year-end, designed to distribute spending across all regions.
The new version of the scheme modifies the fifth Let’s Go Halves initiative from a previous administration by:
- Lowering the eligible age from 18 to 16 years old, widening participation; and
- Raising the daily spending cap from 150 baht to 200 baht to stimulate faster short-term consumption.
Taxpayers and small vendors to benefit from new scheme
Ekniti explained that taxpayers who filed income tax forms for the 2024 tax year would receive a 2,400-baht allowance, while non-taxpayers would get 2,000 baht.
The Let’s Go Halves Plus scheme will also open participation to micro-SMEs with annual revenues below 1.8 million baht, as well as community enterprises, allowing them to register as sellers.
Ekniti added that these vendors should not fear retrospective tax audits, reassuring that the aim of the scheme is to promote income distribution, not punitive taxation.
