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Thai cabinet approves $1.6 billion cash handouts to boost spending


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Thai cabinet approves $1.6 billion cash handouts to boost spending

 

2020-09-22T063616Z_1_LYNXNPEG8L0D2_RTROPTP_4_THAILAND-PROTESTS-PRAYUTH.JPG

FILE PHOTO: Thailand's Prime Minister Prayuth Chan-ocha attends a family photo session with new cabinet ministers at the Government House in Bangkok, Thailand August 13, 2020. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand's cabinet on Tuesday approved cash handouts worth 51 billion baht ($1.6 billion) in a bid to boost domestic consumption and help an economy suffering from the impacts of the coronavirus pandemic.

 

The handouts will help increase spending power and reduce living costs, Prime Minister Prayuth Chan-ocha told a briefing.

 

The plans, announced last week, will be financed by some of the government's 1 trillion baht borrowing.

 

(Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Ed Davies)

 

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-- © Copyright Reuters 2020-09-22
 
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5 minutes ago, madmitch said:

And the story came to a complete end with no details whatsoever. Poor from Reuters.

 

Let me finish it...........OINK OINK!

 

27 minutes ago, webfact said:

The plans, announced last week, will be financed by some of the government's 1 trillion baht borrowing.

 

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4 hours ago, webfact said:

2020-09-22T063616Z_1_LYNXNPEG8L0D2_RTROPTP_4_THAILAND-PROTESTS-PRAYUTH.JPG

Nooooo! Not another hand out! Do you know how much weapons of war we can buy for 1,6 billion USD?

 

Giving away this much money brings tears to my eyes!

Edited by Matzzon
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do they not understand.....BORROWING money means digging another hole that one day will need to be filled in......i.e has to be repaid at some point......then where will they get money to repay money already borrowed.....???????????????

Edited by essox essox
bad spelling
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And all money goes to PM backers and friends: CP group, ThaiBev, Boonrawd brewery, bankers and damn Redbull.

Good luck to fellow thai folks to repay their debts.

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