Three key economic stimulus packages -- the co-payment subsidy scheme, We Win financial aid programme and the Section 33 We Love Each Other programme -- are instrumental to shoring up the country's economy, boosting the country's economic growth by a combined 1.76 percentage points this year.
Sauwanee Thairungroj, an adviser to the University of the Thai Chamber of Commerce (UTCC) council, said the three stimulus packages are estimated to help contribute as much as 301 billion baht in spending, with the retail and wholesale business, lodging and food services enjoying the most benefits.
Thanavath Phonvichai, the UTCC president, said the latest university survey found the state welfare card project is the most popular among low-income earners, while middle-income earners enjoy the co-payment subsidy scheme, where the government helps pay for 50% of food, drink and general goods purchases.
"We expect the three packages, including the We Love Each Other scheme, will help drive economic recovery gradually from the second quarter," said Mr Thanavath.
Registration for the Section 33 We Love Each Other is scheduled to run from Feb 21 until March 7, with approved applicants required to confirm via the Pao Tang app between March 15–21.
Those eligible for the aid receive a 4,000-baht subsidy via the app, followed by 1,000 baht weekly from March 22-April 12.
Those who are rejected can appeal via the website and application from March 15-28, said the Labour Ministry.
More than 11 million workers are covered by the social security system under Section 33 of the Social Security Act.
The UTCC forecasts economic growth of 1.5% in the first half of the year and a healthier 4.5% in the second half, with full-year growth of 2.8-3% this year.
Global vaccine distribution should play a key part in driving an economic recovery, luring more than 6 million foreign travellers to Thailand this year, higher than the 4 million previously projected, said Mr Thanavath.