Thai cabinet approves $1.6 billion cash handouts to boost spending

 

FILE PHOTO: Thailand's Prime Minister Prayuth Chan-ocha attends a family photo session with new cabinet ministers at the Government House in Bangkok, Thailand August 13, 2020. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand's cabinet on Tuesday approved cash handouts worth 51 billion baht ($1.6 billion) in a bid to boost domestic consumption and help an economy suffering from the impacts of the coronavirus pandemic.

 

The handouts will help increase spending power and reduce living costs, Prime Minister Prayuth Chan-ocha told a briefing.

 

The plans, announced last week, will be financed by some of the government's 1 trillion baht borrowing.

 

(Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Ed Davies)

 

-- © Copyright Reuters 2020-09-22

 

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One for you....three for me.

regards worgeordie

And the story came to a complete end with no details whatsoever. Poor from Reuters.

5 minutes ago, madmitch said:

And the story came to a complete end with no details whatsoever. Poor from Reuters.

 

Let me finish it...........OINK OINK!

 

27 minutes ago, webfact said:

The plans, announced last week, will be financed by some of the government's 1 trillion baht borrowing.

 

4 hours ago, webfact said:

Nooooo! Not another hand out! Do you know how much weapons of war we can buy for 1,6 billion USD?

 

Giving away this much money brings tears to my eyes!

Edited September 22, 20205 yr by Matzzon

4 hours ago, webfact said:

Thailand's cabinet on Tuesday approved cash handouts worth 51 billion baht

Giving everyone £25 to spend is hardly likely to boost an economy !

25 quid...how many bottles of cheap whisky can you buy with that?

Surely financed by Chinese loans    

Every day a step closer to become a Chinese vassal state. First persuade the Thai government in a quite generous way to ruin Thailands economy, then let Thailand have a big debt at China and sell the remains of its bancrupt industry as a bargain to Xi and his gang. 

16 hours ago, webfact said:

Thailand's cabinet on Tuesday approved cash handouts worth 51 billion baht ($1.6 billion) in a bid to boost domestic consumption

 

The General heartily endorses the plan and promises to lead by example....and use his own 20 billion Baht share of the money to do some serious economy stimulating.

 

 

 

Edited September 23, 20205 yr by Hayduke

More good work by Khun Prayut and the government to help the economy. 

Thai Taxpayers will just LOVE it ........

do they not understand.....BORROWING money means digging another hole that one day will need to be filled in......i.e has to be repaid at some point......then where will they get money to repay money already borrowed.....???????????????

Edited September 24, 20205 yr by essox essox
bad spelling

On 9/22/2020 at 7:33 PM, Grumpy John said:

25 quid...how many bottles of cheap whisky can you buy with that?

quite a few.......and have change left over......

And all money goes to PM backers and friends: CP group, ThaiBev, Boonrawd brewery, bankers and damn Redbull.

Good luck to fellow thai folks to repay their debts.

Keynesian economics works.  Seems there are a lot of Tories on this forum.

On 9/22/2020 at 9:14 PM, Flying Saucage said:

Surely financed by Chinese loans    

Every day a step closer to become a Chinese vassal state. First persuade the Thai government in a quite generous way to ruin Thailands economy, then let Thailand have a big debt at China and sell the remains of its bancrupt industry as a bargain to Xi and his gang. 

Like it or not, Thailand is ALREADY a vassal of China. It is inevitable.