Cabinet injects another 140bn baht to defend Thai economy from virus surge

The third wave that rose in April now accounts for over 80 per cent of total infections and more than 90 per cent of deaths. Money for the latest relief package will be drawn from the 1.1-trillion-baht programme of borrowing agreed last year to combat Covid impacts. Last month, the Cabinet approved a relief package worth 85.5 billion drawn from the same borrowing programme. The Finance Ministry said the latest package will cover 51 million people and help sustain purchasing power and support the economy in the second half of 2021. Measures under the package announced on Tuesday are as follows: ¬– 93 billion baht in co-payments for consumer purchases of around 31 million people. – 16.4 billion baht in cash handouts to people on low income and 3 billion baht to those with special needs. – 28 billion baht cash-back measure for 4 million people on high income. The state planning agency cut its 2021 economic growth outlook to 1.5-2.5 per cent from 2.5-3.5 per cent following the third-wave outbreak. The Bank of Thailand says it could now take until 2023 for the economy to return to pre-pandemic levels.