Thai Cabinet Unveils 18.5 Billion Baht Economic Boost, Eyes Funds for US Tax Impact
The approved stimulus package, including a competitiveness fund and student loan support, is part of a larger plan to navigate global economic shifts
The Thai government has approved a new economic stimulus package worth 18.5 billion baht, Deputy Finance Minister Julapun Amornvivat announced following a Cabinet meeting.
The stimulus is the second phase of a broader 157 billion baht plan and is divided into two key funds: a 10 billion baht fund to enhance the country's economic competitiveness and an 8.488 billion baht injection into the Student Loan Fund (SLF) to support both new and existing borrowers.
The Minister emphasised that both initiatives are seen as crucial for Thailand's long-term competitive edge.
Looking ahead, Julapun noted that roughly 24 billion baht remains in the stimulus budget.
He revealed that while plans for these funds were previously on hold, new clarity on recent US tax negotiations will now guide their use.
"We have now achieved a clear tax rate of 19%," Julapun stated, "and we have not had to concede on every point. At the same time, while many products will now be subject to open trade, we have successfully protected certain agricultural goods and other items that require special care. This is a very beneficial agreement for Thailand."
The remaining budget will be used to support those negatively impacted by the new US tax measures, though specific criteria for this assistance have yet to be established.
