Government’s economic stimulus campaign a success, with 24 billion baht spent by public

[webfact]

Government’s economic stimulus campaign a success, with 24 billion baht spent by public

 

   

BANGKOK(NNT) - The third phase of the government’s Chim, Shop, Chai (Taste, Shop, Use) economic stimulus campaign is considered a success, with spending via the g-Wallet 2 reaching 13 billion baht.

 

The Director of the Fiscal Policy Office (FPO), Lavaron Sangsnit, as the Spokesman for the Ministry of Finance, said that 11,794,825 participants in the three phases enjoyed the privileges between September 27 and December 17 this year. Total spending via both the g-Wallet 1 and 2 balances amounted to 24.78 billion baht, of which 11.63 billion baht was from the 1,000-baht cash handout into the g-Wallet 1 balance. Participants also spent their own money, totaling 13.15 billion baht, in the g-Wallet 2 balance. The campaign was successful in increasing the circulation of money in the economy.

 

Thanks to the overwhelming response from the public, Krungthai Bank (KTB) has extended its campaign to stimulate spending. Participants in the three phases are now eligible for privileges until January 31, 2020. They are eligible for a 20% cash rebate on 50,000 baht spent, with up to 8,500 baht available as cashback.

 

For every 1,000 baht spent, the recipients have a chance to win more than 500 prizes totaling 12 million baht in value. For those with accumulated spending via their g-Wallet 2 balance throughout the three phases, have a chance to win grand prizes, such as cars and pickup trucks. Registered vendors with receipts of 100 baht or higher can participate in this lucky draw. The prizes will be drawn on six occasions, starting on December 20.

 

Since December 14, the Comptroller General’s Department has transferred 384 million baht to 153,579 participants in the cashback scheme. The department is still verifying the qualifications of those who have yet to receive their cashback rewards.

 

-- © Copyright NNT 2019-12-19

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[petermik]

Absolutely marvelous news....well done the Ministry of Finance for coming up with this brainwave 

[BobbyL]

The source tells you all you need to know. 

[johng]

5 minutes ago, BobbyL said:

The source tells you all you need to know. 

 

27 minutes ago, webfact said:

© Copyright NNT 2019-12-19

^^^^^^^^^^^^^^^^^^^^^^^^^^ Yep when you see the above  you know  it'll be

time.

[Oziex1]

A great success, gave money to the Thai people who gave it to the rich friends of the govt. 

[ParkerN]

1 hour ago, petermik said:

Absolutely marvelous news....well done the Ministry of Finance for coming up with this brainwave 

19 billion? That's a drop in a very large bucket isn't it?

 

Is that really a roaring success?

 

Wow

[30la]

2 hours ago, webfact said:

Government’s economic stimulus campaign a success, with 24 billion baht spent by public

Success? For who? Well for sure the shopkeepers who had been chosen (after a small offer) to take part in this campaign.
The government has had the pleasure of spending money not its own due to a ridiculous "stimulation" campaign!

[RichardColeman]

2 hours ago, webfact said:

The department is still verifying the qualifications of those who have yet to receive their cashback rewards

Qualifications or status ?

[mickey rat]

2 hours ago, webfact said:

Government’s economic stimulus campaign a success, with 24 billion baht spent by public officials.

Fixed it. ????

[Scot123]

How much was creamed off? 4 billion or maybe more. Personally I would think more 40% evaporated 10 billion. 

 

 

[holy cow cm]

You would think it drove the THAI into more debt rather than creating a bubble stimulus. 

[legend49]

4 hours ago, Oziex1 said:

A great success, gave money to the Thai people who gave it to the rich friends of the govt. 

It channeled back through Tesco to Mr. CP.

[Srikcir]

21 hours ago, webfact said:

The third phase of the government’s Chim, Shop, Chai (Taste, Shop, Use) economic stimulus campaign is considered a success

Here is all you need to know:

"[the] government’s popularity following the March 24th general election fell steadily from 23.3% in April to 10.1% in July, 17.1% in September and 14.1% in October, prior to rebounding to 25.6% in November, mostly due to the Chim-Shop-Chai program." (my bold)

https://www.thaipbsworld.com/super-poll-shows-chim-shop-chai-program-boosted-governments-popularity/

It's about politics, re-electing Prayut using the Thai taxpayer funds from the Treasury. It has nothing to do with solving income inequality. 

[Eligius]

I won't even bother reading beyond the headline. This 'government' can - and does, routinely - conjure up figures out of thin air. Remember the 'election' 'result' ...?!

[colinneil]

Well Mr Lavaron best get back to your other job....... Magican at childrens parties.????????????????

[bluesofa]

32 minutes ago, colinneil said:

Well Mr Lavaron best get back to your other job....... Magican at childrens parties.????????????????

Look children, he's going to pull a rabbit out of the hat! Oops never mind, it's just a tall story.

 

[neeray]

Such a roaring success must surely qualify this government as the HUB of financial wizardry.

[madmitch]

Dear Government

 

After the undoubted success of the Chim Shop Chai scheme, may I suggest that such a scheme is introduced for tourists. They could all be given a thousand baht note upon arrival which they could then spend. This would increase the amount spent by foreign tourists in Thailand, thereby making the figures produced by TAT and the Ministry of Tourism even better than they are now.

 

What a fantastic way to stimulate the growth in tourist numbers and expenditure.

 

Yours sincerely

MadMitch

[bluesofa]

Just now, madmitch said:

Dear Government

 

After the undoubted success of the Chim Shop Chai scheme, may I suggest that such a scheme is introduced for tourists. They could all be given a thousand baht note upon arrival which they could then spend. This would increase the amount spent by foreign tourists in Thailand, thereby making the figures produced by TAT and the Ministry of Tourism even better than they are now.

 

What a fantastic way to stimulate the growth in tourist numbers and expenditure.

 

Yours sincerely

MadMitch

Yeah, but being a 'foreign tourist', they wouldn't get a short-time for that amount.