On April 30, 2019, Mr. Lavaron Sangsnit, Director of the Fiscal Policy Office (FPO), revealed that the mid-year economic support measures for 2019 consist of four initiatives through the state welfare card, which will utilize a budget of 13.2 billion baht, along with six tax measures that are expected to result in a revenue loss of over 7 billion baht. In total, the government anticipates a revenue loss of around 20 billion baht, aligning with the targets set by the Ministry of Finance. He emphasized that these are not aggressive measures for economic stimulation but rather initiatives to support continued economic growth, especially given the signs of a slowdown in the economy during the first quarter of 2019.

          Regarding the measure to distribute 1,500 baht to encourage citizens to spend on tourism in secondary cities, studies have been conducted on this matter. Upon review, it appears to be an aggressive measure, but it does not seem worthwhile to implement at this time, so it has been put on hold. Whenever it is deemed beneficial to use, it will be reconsidered, taking into account the funds required, the urgency and necessity of the measure, and whether the outcomes will be worthwhile.

          “Currently, the FPO sees economic figures that, although they indicate a slowdown, are not significant. The Thai economy is not in critical condition, so there is no need for aggressive measures. I confirm that this economic support initiative will help the economy grow by an additional 0.1% from the projected 3.8%. However, if no action is taken, there will be risks to economic growth,” Mr. Lavaron stated.

          Mr. Lavaron also mentioned that the disbursement of funds through the state welfare card for persons with disabilities will begin on May 9 – September 2019, at 200 baht each. Payments for farmers will start on May 8, and funds to alleviate the burden of educational equipment for parents will also begin on May 8. Payments to cardholders to reduce living expenses will commence on May 1, 2019.

 

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