Cabinet approves B43bn consumer subsidy extension

Thailand's ​cabinet has agreed to spend 43 billion ​baht to ‌extend a consumer subsidy scheme for another two months to help ease living costs, Finance Minister Ekniti Nitithanprapas said on Tuesday.

The ​extended ⁠scheme will offer 1,000 baht each to registered people to use until the end of ‌November, Mr Ekniti told a briefing.

The extension will help the public cope with high ⁠oil prices linked to the Middle East crisis and support the economy, Mr Ekniti added.

Mr Ekniti said he is still confident that the economy will grow 2.5% ​this year, the same forecast the Finance Ministry projected in July.

The extension will ​be ‌financed by remaining funds allocated for relief measures under a broader 400 billion ​borrowing ⁠plan to address the impact of high oil prices.

The ⁠first phase of the subsidy scheme, which started in June and ends this month, covered about 40 million ⁠people, with each receiving 1,000 baht per ​month, officials have said.

The government subsidised 60% of eligible purchases, capped at 200 baht per person per ‌day.