Extra subsidy, longer duration for co-payment campaign next month

Thailand’s government is considering prolonging the fourth phase of the co-payment scheme from mid-February with extra subsidy credit, in the wake of rising living costs amid the Covid-19 pandemic.

Deputy Minister of Finance Santi Promphat said on Wednesday the government is planning to offer more than 1,500 baht subsidy credit and extend the duration of the upcoming co-payment campaign to 3 or 4 months. 

Amid the spread of the omicron variant and rising food prices, the government previously shifted the launch date to mid-February, instead of early March.

This is to “alleviate the burden of the people’s living costs when products are expensive,” Santi said. He expects the conclusion on the details will be finalized soon.

Under the co-payment campaign, the government will subsidize half of item prices at participating shops, capped at 150 baht per person each day. The campaign is one of the measures put in place to relieve economic hardship caused by the Covid-19 pandemic.

The cabinet approved the fourth phase on December 21, last year, while the third phase expired on December 31.

“The subsidy money must be utilized as necessary in order to stimulate domestic spending,” Santi added. 

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