FRIDAY, March 29, 2024
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Extend co-payment scheme to ensure 3% growth this year: private sector

Extend co-payment scheme to ensure 3% growth this year: private sector

The Thai private sector is pushing for another extension of the government’s “Kon La Krueng” co-payment scheme as an economic stimulus measure.

Sanan Angubolkul, chairman of the Thai Chamber of Commerce and Board of Trade of Thailand, said on Friday that phase five of the scheme would help boost the country’s gross domestic product (GDP) by 0.63 to 0.65 per cent.

“This would certainly keep Thailand’s GDP growth above 3 per cent this year,” he said.

Sanan estimated that a 1,500-baht subsidy for each of about 30 million Kon La Krueng participants would cost about 45 billion baht but spur circulation of about 90 billion baht. Extend co-payment scheme to ensure 3% growth this year: private sector

Extend co-payment scheme to ensure 3% growth this year: private sector

“The Chamber of Commerce realises the government wants to maintain the country’s financial and monetary discipline, after a lot of money has been spent on different [economic stimulus] measures,” Sanan said.

“But further stimulus will bring a better result. It adds money to the economic system while helping to sustain small businesses and keep jobs,” he added.

He said that more challenges were waiting for the government in May, as the rising diesel price was threatening to stall Thailand’s economic recovery.

Sanan also thanked the government’s Centre for Covid-19 Situation Administration (CCSA) for heeding the private sector’s call to cancel RT-PCR Covid tests for every traveller entering Thailand, starting from May 1.

“We believe the cancellation will help revive the country's tourism, trade and investment,” he said.

 

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