New stimulus to pump B115bn into economy

The cabinet has approved 481 projects worth 115 billion baht as part of an economic stimulus package expected to create 7.4 million jobs and lift GDP growth by 0.4 percentage points.

- WICHIT CHANTANUSORNSIRI

Speaking yesterday after the weekly cabinet meeting, Finance Minister Pichai Chunhavajira said the government needs to implement stimulus measures as both domestic and international factors weigh on the Thai economy, especially the global trade war and US tariffs, which dampen exports and reduce income.

The key principles for the stimulus budget include: ensuring wide-spread distribution of funds, promoting employment, and supporting projects with long-term impacts. Each investment project must have a minimum value of 500,000 baht, except for essential projects such as those in the tourism sector, which may be below that threshold.

The investment period must not exceed 12 months and must be completed by Sept 30, 2026.