Government considering extending shopping subsidy scheme to lift economy in last quarter
The Finance Ministry is looking at reviving the "Shop Dee Mee Kuen" (Shop and Payback) scheme to stimulate the economy towards the year-end. There is no word yet on whether the “Khon La Khrueng” (Let’s Go Halves) co-shopping subsidy campaign, which expires this month, would be extended.
The Fiscal Policy Office (FPO) said on Monday that it is finalising the details for the new phase of the Shop Dee Mee Kuen scheme, with some adjustments made to the original criteria when it was first introduced in 2020.
Under the original Shop Dee Mee Kuen, people who shopped for specified products, such as those with VAT (excluding alcoholic beverages, tobacco, accommodation, or flight tickets), OTOP, or books, will receive a tax discount in line with the scheme’s rules.
However, FPO director and Finance Ministry spokesman Pornchai Theerawet said a decision is yet to be made on extending the Khon La Khrueng to its sixth phase. Under the scheme, the government covers 50 per cent of bills for food, drinks and basic necessities up to 150 baht per day when paying via Pao Tang application at participating shops. The fifth phase will end on October 31.
Pornchai said the fifth phase, which capped the spending at 800 baht per person, has recorded total spending of 34.3 billion baht, from 24.02 million people, as of Sunday. He said 8.75 million people, or 36 per cent of all registrants, had already maxed out their 800-baht limit.
Pornchai added the FPO estimates that measures stimulating domestic spending would help boost the country’s economy towards the year-end, and hoped to see gross domestic product (GDP) in 2022 expand by 3.0 to 3.5 per cent.
He said the Fiscal Policy Office estimated next year’s GDP growth at least 4 per cent, with tourism sector a major contributor thanks to the increasing number of foreign visitors.
The Finance Ministry will release by the end of October its updated forecast on economic expansion this year and in 2023.
The International Monetary Fund in August predicted 2.8 per cent GDP growth for Thailand in 2022.
