Thailand Approves $6.13 Billion in Borrowing for Subsidies
Thailand will borrow 200 billion baht to fund consumer subsidies for 43 million people. This move aims to mitigate economic impacts from the Middle East war.
Thailand approved 200 billion baht ($6.13 billion) in new borrowing to fund a consumer subsidy program. The initiative aims to support 43 million citizens over four months to counter rising living costs. Investors are monitoring the impact on fiscal stability as the public debt-to-GDP ratio nears its official 70% ceiling.
### Funding the Consumer Subsidy Shield Finance Minister Ekniti Nitithanprapas said the cabinet authorized the debt to alleviate economic pressure linked to the Middle East war. The program provides 1,000 baht ($30.68) per person monthly from June through September. Permanent Secretary Lavaron Sangsnit told a press conference the finance ministry will subsidize 60% of specific consumer goods, capped at 200 baht daily.
