Renewal of Thai Chuay Thai Plus to Support Q4 GDP

Prachachat•Economy•14h ago

Reader Briefing

The Ministry of Finance is considering extending the Thai Chuay Thai Plus measure for two months to support purchasing power amid rising global oil prices.

•The Ministry of Finance is considering extending Thai Chuay Thai Plus for two months in October and November.
•The proposed renewal may shift the funding formula from 60/40 to 50/50 (Khon La Khrueng) to reduce costs and increase participants.
•Funding may be sourced from a remaining 40 billion baht in the energy crisis emergency decree, with options to shift funds from the energy transition plan.
•SCB EIC warns that Q4 GDP growth could slow to 1-2% if the stimulus measure is not extended.

Overview

•The Ministry of Finance is evaluating the extension of the Thai Chuay Thai Plus policy for approximately two months during October and November.
•Lavaron Sangsnit stated the necessity of the extension is due to external factors, specifically prolonged conflict in the Middle East causing crude oil prices to exceed 100 USD per barrel.
•A proposal to adjust the payout formula to 'Khon La Khrueng' (50/50) with 1,000 baht total or 500 baht per month is under consideration.
•The first phase of Thai Chuay Thai Plus used 159 billion baht, with approximately 26 million people exercising their rights out of 30 million available.
•Funding can be drawn from the Emergency Decree authorizing the Ministry of Finance to borrow money for energy crisis resolution and energy transition 2026.
•Dr. Thitima Chucherd of SCB EIC warned that without the extension, Q4 growth may drop below 2% due to limited stimulus funds and a high base from the previous year.
•Dr. Yanyong Thaijaroen of SCB EIC suggested that future measures should target vulnerable groups rather than general distribution to maximize economic circulation.
•The Screening Committee for Loan Expenditure will meet this week to consider the Thai Chuay Thai Plus Phase 2 proposal before submitting it to the Cabinet by September 30.

Full article content is available on the original source.

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Source: Prachachat (Original)

Key Quotes

Lavaron Sangsnit

"If the project is renewed, it must pass through the Screening Committee before being proposed to the Cabinet for consideration."

หากต่ออายุโครงการจะต้องผ่านคณะกรรมการกลั่นกรองฯ ก่อนเสนอให้ ครม.พิจารณา

Key Entities

Person

Anutin Charnvirakul(อนุทิน ชาญวีรกูล)ℹ️

The Prime Minister who wants the Thai Chuay Thai Plus measure extended for approximately two months.

Lavaron Sangsnit(ลวรณ แสงสนิท)

Permanent Secretary of the Ministry of Finance and Chairman of the Screening Committee for Loan Expenditure.

Pharadon Prisnanantakul(ภราดร ปริศนานันทกุล)

Minister attached to the Prime Minister's Office overseeing the Bureau of the Budget.

Ekniti Nitithanprapas(เอกนิติ นิติทัณฑ์ประภาศ)ℹ️

Deputy Prime Minister and Minister of Finance.

Yanyong Thaijaroen(ยรรยง ไทยเจริญ)

CEO of Economic Research and Sustainability at SCB EIC.

Thitima Chucherd(ฐิติมา ชูเชิด)

Senior Director and Executive of Macroeconomic Research at SCB EIC.

Sathien Sathienthamma(เสถียร เสถียรธรรมะ)

Chief Executive Officer mentioned at the end of the text.

Organization

Ministry of Finance(กระทรวงการคลัง)ℹ️

The government body managing the extension and funding of the stimulus measures.

SCB EIC

The economic research center of Siam Commercial Bank providing GDP forecasts and policy suggestions.

Screening Committee for Loan Expenditure(คณะกรรมการกลั่นกรองการใช้จ่ายเงินกู้ฯ)

The committee responsible for reviewing loan expenditure before proposing it to the Cabinet.

Cabinet(ครม.)

The executive body that must approve the extension of the stimulus project.

Krungthai Bank(ธนาคารกรุงไทย)ℹ️

The bank that operates the Pao Tang application used for the stimulus project.

Policy

Thai Chuay Thai Plus(ไทยช่วยไทย พลัส)

A government stimulus measure aimed at supporting purchasing power and the economy.

Thai Thiao Thai(ไทยเที่ยวไทย)

A tourism promotion measure working in conjunction with the economic stimulus.

Law

Emergency Decree authorizing the Ministry of Finance to borrow money for energy crisis resolution and energy transition 2026(พระราชกำหนดให้อำนาจกระทรวงการคลังกู้เงินเพื่อแก้ไขปัญหาผลกระทบจากสถานการณ์วิกฤตด้านพลังงานและสร้างการเปลี่ยนผ่านด้านพลังงานของประเทศ พ.ศ.2569)

The law providing the borrowing authority for energy crisis relief and transition funding.

Place

Middle East(ตะวันออกกลาง)ℹ️

The region where conflict is causing global crude oil prices to rise.