The Cabinet, during its meeting on 8 December 2020, approved the second phase of the “half-half co-payment scheme,” as a way to stimulate the economy by encouraging consumers to spend more.
The first phase, which began on 23 October 2020 and is scheduled to end on 31 December 2020, covers 10 million applicants. The Government will subsidize half the amount of each applicant up to 150 baht a day, capped at 3,000 baht per person.
The second phase covers an additional five million applicants. Altogether 15 million people will benefit from the scheme. The amount will be raised from 3,000 to 3,500 baht, and the conditions will be the same as in the first phase. The 10 million current applicants who have already registered in the first phase will be eligible for an additional 500 baht.
Registration for the second phase is set for 16 December, and the second phase will be implemented from January to March 2021. The Government believes that the co-payment scheme of the two phases will put 105 billion baht into circulation and increase GDP by 0.32 percent.
The scheme has been found to be popular among consumers and traders, as it has reduced the people’s cost of living and provided small traders with opportunities to earn more income.
At the same meeting, the Cabinet approved the improvement of the “We Travel Together” project by increasing subsidies for hotel accommodation and extending this tourism project, scheduled to end on 31 January 2021, to 30 April 2021.
It also approved a budget allocation to increase the purchasing power of low-income earners, under the state welfare card program.
Source: The Government Public Relations Department