Bangkok: The Prime Minister has announced the approval of the extension of the "Thai Helps Thai Plus" economic stimulus program into its second phase. The program aims to stimulate the economy and alleviate the financial burden on citizens, amid rising living costs and the recent interest rate hike by the US Federal Reserve.
According to Thai News Agency, Prime Minister and Minister of Interior Anutin Charnvirakul disclosed details about the extension of the initiative. He shared that Deputy Prime Minister and Minister of Finance Ekniti Nitithanprapas has reported on the matter and is expected to provide further details soon. The Prime Minister emphasized that the program is not intended as a populist measure but rather a strategy to support economic growth without causing public hardship.
The specifics of the program, such as the conditions for receiving a 1,000 baht payment over two months, are yet to be officially announced by Minister Ekniti. The Prime Minister expressed confidence in the program's positive impact, stating that it will include both the Thai Helps Thai Plus Phase 2 project and the State Welfare Card to ensure wide-reaching benefits.
In response to the Federal Reserve's recent 0.25 percent interest rate increase, the first in over three years, Mr. Anutin assured that the government would avoid measures that could lead to public difficulties. He highlighted the "Thai Helps Thai Plus" project as a key initiative to help manage expenses during these challenging times.
When questioned about the potential effects on energy prices, Mr. Anutin noted that there are various measures in place to mitigate public hardship. He reiterated the program's role in reducing expenses during this period of economic strain. Looking ahead, the Prime Minister mentioned the exploration of additional measures beyond the conclusion of the current phase, underlining the government's commitment to reducing the financial burden on citizens.