Economic stimulus policies will be more targeted towards vulnerable groups, Finance Minister Arkhom Termpittayapaisith told a business forum on Wednesday.
He made the remark at the Bloomberg Business Summit at the Asia-Pacific Economic Cooperation meeting in Bangkok.
Mr Arkhom said during the pandemic the past two years, fiscal policy played an important part in supporting the economy, mainly through the launch of cash handout programmes and stimulus measures.
As the government has already lifted all pandemic restrictions, he said fiscal policy will play less of a role, making way for monetary policy, which is the same approach used in other countries.
"Government stimulus packages, particularly broad-based ones, will become more targeted towards vulnerable groups," said Mr Arkhom.
He said broad-based stimulus packages will be rejigged to let the economy revive.
"People are going back to work, the hotels are open and factories are returning to 100% capacity. People have more income now, although it might not be as high as before the Covid outbreaks," Mr Arkhom said.
Amid rising oil prices, the government is still providing support to certain groups of people.
On Tuesday the cabinet agreed to a fifth extension of the excise tax cut on diesel, from Nov 21 to Jan 20, because of high oil prices.
Mr Arkhom said while the government is worried about a possible global recession, he believes the rebound in tourism and a strong export sector will be the main drivers of economic expansion next year.
Recently the ministry forecast economic expansion of 3.4% this year, rising to 3.8% next year.
The Tourism Authority of Thailand expects 10 million foreign arrivals this year, increasing to 22 million next year.
