Thai PM sticks by signature stimulus plan amid calls for scale-down

Thai Prime Minister Srettha Thavisin said the govt will submit a bill to parliament to borrow 500 billion baht to finance the scheme, which will see payments of 10,000 baht ($279) to most Thais to spend in their localities within six months, starting in May 2024. - Image from The Nation Thailand/ANN

BANGKOK (Reuters): Thailand's prime minister stuck largely to his government's signature stimulus policy on Friday in the face of mounting criticism, seeking to allay concerns about inflation and a possible adverse fiscal impact on South-East Asia's second-largest economy.

After a review of his controversial 560 billion baht ($15.66 billion) "digital wallet" policy amid calls for it to be scaled down, premier Srettha Thavisin reduced the size of the package to 500 billion baht.