Thailand plans 18.5 billion baht stimulus spending and will compensate border conflict casualties
The government has about 25 billion baht of funds to use to mitigate the impact of US tariffs and for broader relief efforts
[BANGKOK] Thailand will spend 18.5 billion baht (S$736 million) on stimulus measures to support the economy as it braces for the impact of US tariffs, and will compensate the families of those who died in last month’s border conflict, officials said on Tuesday (Aug 5).
The stimulus measures approved by Cabinet are aimed at enhancing economic competitiveness and supporting student loans, Deputy Finance Minister Julapun Amornvivat told reporters.
The government still has about 25 billion baht of funds to use to mitigate the impact of US tariffs and for broader relief efforts, Julapun noted.
The US last week set a 19 per cent tariff on imported goods from Thailand, lower than the 36 per cent rate announced earlier this year and more aligned with other countries in the region.
Julapun added that Cabinet gave the government approval to prepare a joint statement on tariffs and trade with the US, but said discussions were ongoing and there was no set signing date.
On Tuesday, the University of the Thai Chamber of Commerce said that it expected the economy to grow 1.7 per cent this year.
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That is below both the finance ministry’s revised forecast of 2.2 per cent growth in 2025 and last year’s actual growth of 2.5 per cent.
The Cabinet also approved a 10 million baht payment to the families of government officials who died in the July conflict with Cambodia, while those injured will receive up to one million baht, government spokesperson Jirayu Huangsap told a briefing.
Families of Thai civilians who died during the conflict will each receive a payment of eight million baht, he said, while the injured would receive up to 800,000 baht.
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