Thailand subsidizes prices to stimulate consumer demand.

DNO - Thailand's "Thais Help Thais Plus" program (roughly translated as "Thais Helping Thais, Extended Version") recorded a strong response on its first day of implementation (June 1st), with total registered spending exceeding 2 billion baht.

Consumers in Thailand. Photo: Nation

According to the Bangkok Post, the Thai government is implementing the "Thais Help Thais Plus" program, which runs until September 30th, to alleviate the burden of living costs for citizens and stimulate the local economy ; while also increasing income for small businesses and traders nationwide, strengthening the Thai economy.

The program is taking place at a time when the cost of living in Thailand is rising, stemming from supply chain disruptions caused by conflicts in the Middle East.

Thai government deputy spokesperson Lalida Persvivatana said the program allows registered customers to purchase goods at local stores by paying only 40% of the value, with the remaining 60% subsidized by the government.

Thus, in total spending on June 1st, the Thai government contributed 1.18 billion baht through the subsidy program, while consumers paid the remaining 855.64 million baht.

According to statistics from the Financial Policy Office (FBO) of the Thai Ministry of Finance , on the opening day alone, more than 26 million people registered for the program. The majority were aged between 20 and 50, the country's core workforce.

In addition, a total of 896,110 stores have completed registration and accepted the program's terms and conditions, ready to serve customers. This number includes 820,436 existing stores and 75,674 newly registered businesses.

The high adoption rate from the outset reflects widespread public access to this measure and a strong need for government support to help reduce the cost of living in Thailand.

Meanwhile, purchasing food and beverages through approved food delivery platforms participating in the program will begin on June 15th.

Items permitted for purchase include food, beverages, everyday consumer goods, and public transportation services. Alcoholic beverages, tobacco products, gift certificates, and lottery tickets are excluded.

Previously, on May 19th, the Thai government approved the "Thais Help Thais Plus" program, with state contributions not exceeding 200 baht per person per day and not exceeding 1,000 baht per person per month.

To make a purchase, participants must top up their G-Wallet account. Stores will generate QR codes through the “Thung Ngern” app, allowing customers to scan and pay via the Pao Tang app. The system will automatically calculate the government subsidy before the user confirms the transaction with a six-digit PIN.

Nation stated that eligible applicants must be Thai citizens aged 18 or older and not be recipients of state welfare cards... It is estimated that around 30 million consumers in Thailand will benefit from the “Thais Help Thais Plus” program. Shopping is permitted at participating registered stores.

Source: https://baodanang.vn/thai-lan-tro-gia-kich-cau-tieu-dung-3339096.html