The Economic Stimulus Board has approved a 110-billion-baht stimulus package to revive the Thai economy, with the initiative projected to raise gross domestic product by up to 0.5%, Finance Minister Pichai Chunhavajira said on Wednesday.
The proposals approved by the board would now go to the cabinet for final approval next week, he said.
The economic push is designed to strengthen long-term investor confidence, according to Mr Pichai.
“Thailand has suffered from persistently low investment levels, compounded by structural issues in areas such as water infrastructure, roads, energy, and education,” he said.
The 110 billion baht will be distributed across nearly every province and district nationwide, he said. Notably, provinces with lower per-capita income will receive a larger share of the funds compared to wealthier provinces, ensuring more equitable development.
According to Mr Pichai, 70% of the budget will fund infrastructure projects focused on agricultural and potable water systems, flood prevention and road construction.
An additional 10% will go towards tourism development, while the remaining funds will support financial measures to counteract economic disruptions caused by external factors such as punitive US trade policies.
The stimulus programme is expected to create 6–7 million jobs, with 30% of the total budget (about 30 billion baht) allocated for wages, according to the minister.
However, some budget items were not approved in this round.
Mr Pichai said some projects proposed by local administrations and community groups were not endorsed by their parent ministries or were redundant.
These proposals will be reviewed for potential resubmission at a later date.