Thailand Deploys $1.4 Billion Stimulus to Spur Consumption

The Thai government has approved a $1.4 billion stimulus package to bolster consumer spending and the country's economy. The program is aimed at driving economic growth and strengthening the government's popularity ahead of the upcoming general election. The stimulus measures include cash handouts of up to $60 for low-income individuals, discounts on electricity and water bills, and subsidies for domestic travel and dining. The initiative is expected to benefit approximately 24 million Thais, or around a third of the population. The decision comes as Thailand's economy has been facing headwinds, with a slowdown in tourism and exports. The government hopes that the stimulus will help spur consumption and provide a much-needed boost to various sectors, including retail, hospitality, and transportation. While the stimulus is a significant financial commitment, the government believes it is necessary to support the country's economic recovery and maintain political stability in the lead-up to the elections.