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Thailand aims for over 3% growth with $4.4 billion stimulus | Tuoi Tre News JavaScript is off. Please enable to view full site. PoliticsSocietyBusinessLifestyleFeaturesInternationalSportsCity DiaryEducationMedia Thailand aims for over 3% growth with $4.4 billion stimulus Monday, March 10, 2025, 13:47 GMT+7 Bangkok's skyline is photographed during sunset in Bangkok, Thailand, July 3, 2023. Photo: Reuters BANGKOK -- Thailand's government wants to lift economic growth above its 3% target this year and is confident a strong first half will be followed by momentum from the next phase of its signature stimulus programme and measures worth 150 billion baht , officials said on Monday. Those stimulus measures, including the next stage of its "digital wallet" scheme, will be implemented by the end of the third quarter, said Paopoom Rojanasakul, a deputy finance minister. "We have enough ammunition prepared," he said, adding that the spending would be used wisely and at the appropriate times. The government is pinning its hopes on the flagship 450 billion baht "digital wallet" scheme, which transfers 10,000 baht to an estimated 45 million people, to jumpstart an economy that has struggled since the pandemic. While about a third of payments are already made in cash, the central bank governor has said consumption remains a problem, noting not all of the handouts were spent in earlier phases, with some used to pay off loans. Fourth quarter growth last year missed expectations, coming in at 3.2%. Southeast Asia's second-largest economy expanded 2.5% over the whole year, slower than expectations and lagging peers. The next phase of the handout scheme, a key plank of the ruling party's election platform, will deliver payments via a smartphone application to 2.7 million people aged 16-20 and will begin in the second quarter, Finance Minister Pichai Chunhavajira said on Monday. By using a digital platform, the next phase is expected to be more effective, said Deputy Finance Minister Julapun Amornvivat. "Because we are using the mechanism of the digital wallet, it can control and direct money to the places we want more," he said. On February 26, the Bank of Thailand cut the key interest rate by 25 basis points to 2.00%, responding to a weaker growth outlook and increased risks from global trade uncertainty, amid repeated government calls for further easing to help a flagging economy. The government is also targeting export growth of more than 4%, and a weaker baht would help meet that goal, Pichai told reporters. The central bank said the bar is high for a further cut as the level is consistent with the current economic outlook and robust to risks going forward. The central bank also projects growth to be slightly higher than 2.5% this year, down from 2.9% seen in December. 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Manchester City Ho Chi Minh City resident hands over long-tailed macaque with severed tail to forest rangers “I hope it will have a better life in the wild" Halal flavors: A unique Ramadan culinary market in Ho Chi Minh City Operating only during the holy month, it has become a cherished event, drawing crowds eager to explore its rich and diverse flavors Vietnam’s public security forces stun with martial arts, crime-fighting show in Hanoi The rehearsal showcased the public security officers' extraordinary physical and tactical skills, drawing thousands of residents and tourists to the Hoan Kiem Lake area, where it took place Vietnamese student collects leftover food, scrap metal on way home from school to support family He rides his bicycle home from school carrying containers of leftover food and bags of scrap metal Indonesia welcomes Vietnam’s Party chief with ceremonial 7-gun salute The trip is made at the invitations of Indonesian President and President of the Great Indonesia Movement Party Prabowo Subianto and ASEAN Secretary-General Kao Kim Hourn French frigate visits Ho Chi Minh City, reinforcing strategic ties The visit is part of France’s broader strategy to maintain an active presence in the Indo-Pacific region Editor-in-Chief: LE THE CHU Publication permit 1332/BTTTT-PTTH&TTĐT, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam © All rights are reserved by Tuoi Tre/Tuoi Tre News Content may not be republished, except with the prior written permission of Tuoi Tre/Tuoi Tre News. 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