Thai handout recipient number 40 million citizens

Thailand anticipates distributing its two-part cash handout to a maximum of 40 million recipients, streamlining the process for Prime Minister Paetongtarn Shinawatra’s administration to fund and execute.

The initial phase will involve providing 10,000 baht ($300) to 14.5 million individuals in urgent need of aid from September 25 to October 1, as announced by Permanent Secretary for Finance Lavaron Sangsnit in Bangkok on Monday.

The second phase of the programme will include the remaining 36 million Thais who applied by the registration deadline. The total number of recipients will not exceed 40 million, making it easier for the government to manage financing.

The budget approved by parliament for this fiscal year and the next will cover the programme’s funding.

The cash gift programme, along with government spending and support from the Vayupak Fund, is expected to boost Thailand’s economy in the fourth quarter.

Thailand’s annual GDP growth has been below two per cent in the past decade, lagging behind its neighbours.

The cabinet is expected to approve the cash stimulus plans on Tuesday. The original plan was to provide cash to up to 50 million Thai adults.

Attribution: Bloomberg