The Thai private sector believes that the country’s economy is likely to expand by between 3.0% and 3.5% this year, if the new government, expected to be formed within September, immediately rolls out economic stimulus packages, according to Sanan Angubolkul, chairman of the Thai Chamber of Commerce and the Board of Trade.

 

He cited the Pheu Thai party’s “digital wallet” scheme, under which about 50 million Thai nationals aged 16 and older will each have a one-time 10,000 baht subsidy wired into their “digital wallet”, for spending within six months in areas within a 4km radius of their residences.

 

He said that the scheme will cost the state about 500 billion baht, but it will help stimulate the economy. With every 100-150 billion baht spent, the GDP will increase by about 1%, or up to 3% for the spending over the whole six months.

 

Caption: Sanan Angubolkul, chairman of the Thai Chamber of Commerce and the Board of Trade

 

Full Story: https://www.thaipbsworld.com/thai-private-sector-confident-of-up-to-3-economic-growth-this-year/

 

-- © Copyright Thai PBS 2023-08-15

 

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What does economic growth of 3% mean for the average Thai? He gets nothing from it because all the profit from the growth goes to the fat cats in business (and government as grift).

13 minutes ago, snoop1130 said:

or up to 3% for the spending over the whole six months.

Many will probably blow the 10,000 baht in a week...

To be revised down to 1,9 as usual.