The government is planning to spend 45 billion baht on 3,000-baht cash handouts to 15 million people affected by the economic crisis caused by COVID-19. This is expected to inject a cash flow of about 90 billion baht in the economy and boost domestic consumption.
Danucha Pichayanan, deputy secretary-general of the Office of the National Economic and Social Development Council, said on Wednesday that a meeting of the Centre for the Administration of the Economic Situation Affected by COVID-19, approved an economic stimulus measure proposed by the Finance Ministry.
Under the measure, the government will give 3,000-baht cash handouts to people to buy consumer goods.
They are required to register for the cash and the money will be transferred through the Pao Tang app’s G-wallet app, similar to the Chim Shop Chai (taste-shop-spend) relief scheme, Mr Pichayanan said.
The Finance Ministry will prepare details of the cash handouts scheme to present to the centre again and the measure is expected to be implemented from next month until the end of the year, he said.
The measure is aimed at helping 15 million people. Spending under the measure will be initially capped at 100-250 per person per day, he said.
For shops and businesses that want to join the programme, priority will be given to small entrepreneurs, as well as street vendors and hawkers, Mr Pichayanan said.
The cash handouts are intended to ease the burden of rising living costs, boost domestic consumption and help more than 80,000 small entrepreneurs, street vendors and hawkers, Mr Pichayanan said, adding the government will subsidise 50% of their spending.
The measure is expected to stimulate cash flow of about 90 billion baht in the economy and boost the economy by 0.25%, he added.
Meanwhile, the Centre for the Administration of the Economic Situation Affected by COVID-19 also approved the Labour Ministry’s request for 23.47 billion baht to hire new graduates.
Labour Minister Suchart Chomklin told the media his proposed project for hiring new graduates was approved by the centre.
The next step will see the project sent to the National Economic and Social Development Council, which will work on the project.
The 23.47 billion baht will come from the 400-billion-baht loan borrowed by the Finance Ministry to tackle the economic effects of the pandemic.
The minister said the project was the right solution to the unemployment problem faced by new graduates.
Under the budget, 260,000 new graduates nationwide are expected to be hired for 12 months, from 1st October this year to 30th September 2021, with the government paying 50% of their monthly salary based on their highest education level but not exceeding 7,500 baht per person.
Graduates qualified for the project must be Thai nationals aged under 25 years old.
Those who are older than 25 years must graduate during 2019–2020.
The second part of the project is the “Thailand Job Expo 2020” job fair tentatively scheduled to take place at the end of this month.
Around one million positions in the public and private sectors will be available at the event. Candidates and jobs will be matched using the platform “Thai Mee Ngan Tham” (Thais Have Jobs).
Meanwhile, the Ministry of Interior has instructed all provinces to organise a walking street to promote tourism and revive the grassroots economy, while strictly complying with preventive measures imposed by the Centre for COVID-19 Administration Centre (CCSA).
The event must be held at least once a month, said permanent secretary for Interior Chatchai Phromlert.
The meeting also approved new ministerial regulations governing state procurement to support small-and medium-sized entrepreneurs and promote the use of domestically made materials.