Thai PM Orders Extension of "Thai Choo Thai Plus" Economic Aid for Two Months

Deputy Prime Minister and Commerce Minister Supachai Suthampan announced on September 15th at Government House that the Prime Minister has ordered an extension of the economic stimulus package "Thai Choo Thai Plus." She highlighted the current risks to Thailand's economy, citing increased geopolitical tensions such as the closure of the Strait of Hormuz and the subsequent rise in oil prices. The Prime Minister, understanding the domestic economic situation, has asked Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas to consider extending the program for an additional period. When asked about the duration of the extension, Supachai held up two fingers, indicating "two months" as a guideline from the Prime Minister. Regarding the amount of financial assistance, Supachai stated that Ekniti will provide details. She mentioned that they need to assess how funds can be allocated within the two-month extension period. When questioned about the source of funds, whether it would come from emergency loan decrees or the annual budget, Supachai responded that "all funds are available" and Ekniti will determine which sources will be utilized. In response to how the Ministry of Commerce will handle the rising oil prices, Supachai said that she had already prepared for such a scenario during March. Therefore, the approach will be similar. She also mentioned that on September 14th, she held discussions with Ekniti, Deputy Prime Minister Pakorn Nilaphan, and the Ministry of Energy in a small group format. A plan will be announced soon, and the measures will be implemented immediately, not postponed until the end of the year. Supachai acknowledged that the economic stimulus measures would not solely consist of the "Thai Choo Thai Plus" program but would include other initiatives as well. She expressed concern that the current crisis might be more severe than the previous one, as the country has not fully recovered from the initial impact and is also dealing with the lingering effects of COVID-19. Therefore, a comprehensive review of the entire system is necessary. Source: INN News