Thailand approves $748m support measures amid higher inflation

Thailand’s cabinet on Tuesday approved additional support measures worth 27.4 billion baht ($748.23 million) to ease cost of living pressures and sustain consumption, amid rising inflation, the finance ministry said.

The measures to run during September-October include 21.2 billion baht for 26.5 million people, or 800 baht each, under an existing scheme aimed at supporting consumer purchasing power, the ministry said in a statement.

The government will separately offer 400 baht to each of 13.34 million low-income earners with state welfare cards, totalling 5.3 billion baht, it said.

Some 892 million baht will be for 2.23 million people with special needs, the ministry said.

The support will help maintain purchasing power, with about 48.6 billion baht to be injected into the economy, lifting gross domestic product by 0.13per cent this year, ministry spokesman Pornchai Theeravet, who also heads the fiscal policy office, said in a statement.