Thai gov't redirects budget to new economic stimulus plan
The Finance Ministry will propose new measures to stimulate the economy and mitigate the impact of the US’ reciprocal tariff measures, which are expected to affect domestic businesses over the next one to two years.
Bangkok (VNA) - The Thai government has decided to scrap its plan to distribute 10,000 THB (230 USD) via the digital wallet programme, and will instead reallocate more than 150 billion THB towards a new economic stimulus plan.
This decision comes amid escalating global economic uncertainties caused by trade tensions and the recent imposition of US tariff measures, which have affected the global economy as well as Thailand’s exports and manufacturing sectors.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira stated that the Economic Stimulus Policy Committee, chaired by Prime Minister Paetongtarn Shinawatra, will meet at the Government House on May 19.
The Finance Ministry will propose new measures to stimulate the economy and mitigate the impact of the US’ reciprocal tariff measures, which are expected to affect domestic businesses over the next one to two years.
The most affected sectors include exporters, supply chain businesses and manufacturers facing an influx of cheap foreign goods.
Pichai said that despite the challenges, the government remains committed to achieving GDP growth of over 3% in 2025. Additional stimulus measures will be introduced, with a focus on tourism and real estate, to prevent potential risks in these sectors.
A source from the Government House revealed that the economic uncertainty expected in the second half of 2025 has prompted a complete overhaul of the stimulus plan.
The government will now repurpose 157 billion THB from the central emergency and contingency budget to fund more targeted and timely economic initiatives.
The new plan will be structured as a package focused on addressing the impact of US tariff hikes. It will prioritise production restructuring and liquidity support for affected businesses.
💎 As a result, the government has decided to cancel the 10,000-THB digital wallet handout for 2.7 million young people aged 16 to 20, previously budgeted at 27 billion THB, and redirect the funds to more suitable projects./.
The Tourism Authority of Thailand (TAT) has unveiled 12 travel campaigns, aiming to promote travel across 55 selected provinces, with a target of generating no less than 500 million THB (15 million USD) in tourism revenue.
If the US eventually chooses to impose only a 10% tariff on Thai imports rather than the announced 36%, Thailand’s gross domestic product (GDP) growth could reach 2.5%.
The Bank of Thailand's Monetary Policy Committee voted 5-2 to reduce the one-day repurchase rate by 25 basis points to 1.75%, the lowest level in two years.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
