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Chief ASEAN economist says protests not helping Thailand’s weak economy recover

The Ministry of Finance is proposing to get Thais to shop the country out of recession. They’ve proposed an extension to the shopping co-payment scheme, Khon La Khrueng (Let’s Go Halves), first introduced last month. The scheme aims to encourage spending by offering Thai shoppers discounts of up to 150 baht a day at participating stores, to a maximum of 3,000 baht per person for the duration of the campaign.

Supak Chaiyawan from the Ministry of Finance says a proposal to extend the scheme will be submitted to the Centre for Economic Situation Administration for approval next week. The hope is that people will still be able to avail of discounted prices over the New Year holidays.

The campaign started on October 23 and is currently due to expire on December 31, with participating stores refunded by the government, who transfer payments through Thung Ngern app.

Supak says she hopes to announce details of the extended scheme next week, pending CESA approval.

“This week we have opened registration for an additional 720,000 participants to fill the 10 million people target in the first phase, after some who had previously registered forfeited their rights by not spending within the 14 days. Those who could not register in time are advised to wait for the second phase. Details should be announced next week.”

She adds that another stimulus scheme is in the works, this time hoping to benefit those who hold state welfare cards.

“This project will serve as economic stimulus to low-income earners, which would complement the Khon La Khrueng campaign that is aimed at middle-income earners.”

SOURCE: Nation Thailand

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