Govt readies THB453 billion to stimulate economy
The funds will be used for various campaigns, including loans for buyers in the Home for Thais scheme and the latest round of the 10,000 baht handout
The government is planning to use 453 billion baht from the central budget to stimulate the economy in the short term during 2025, in a bid to boost the expansion of gross domestic product (GDP) to over 3% year on year, a news source from the Government House revealed on Tuesday.
Of this budget, 115 billion baht will be used to stimulate domestic spending through various campaigns, including the 10,000-baht handout scheme (formerly known as the digital wallet scheme), the senior allowance, the Let’s Go Halves travel subsidy, and other soft power and tourism promotion campaigns.
Meanwhile, 338 billion baht will be used to provide loans and loan guarantees to career-related lending, community enterprises and SMEs, farmers, buyers of properties under the Homes for Thais campaign, and other soft loan programmes of the Government Savings Bank and Thai Credit Guarantee Corporation.
The source added that the government estimates that these economic stimulus measures and other government projects will help boost the 2025 GDP beyond 3.0% and up to 3.5%.
This estimation is higher than the earlier forecast by the National Economic and Social Development Council, which said that the Thai economy would expand 3.0% in 2025, slower than most countries in ASEAN.
