Bangkok: Pleased with the positive response to the "Thai Helps Thai Plus 60/40" scheme, Deputy Prime Minister and Minister of Commerce, Ms. Supajee Suthamphan, expressed satisfaction with the program's effectiveness in reducing the cost of living and boosting SME businesses. She declined to comment on increasing the funding amount, stating that an assessment of the results would be necessary before making such a decision. Ms. Supajee also expressed hope for a resolution to the situation in the Middle East, which could support Thailand's GDP recovery.
According to Thai News Agency, Ms. Supajee noted that since the launch of the 'Thai Helps Thai Plus 60/40' project in April, public spending has improved, which has helped alleviate the cost of living, especially for essential consumer goods. The project has also facilitated the inclusion of more SMEs into the network, aligning with its objectives of reducing expenses and increasing income for the public.
When asked about the potential for increasing the project budget, Ms. Supajee stated that an evaluation of the project's results would need to be conducted first. This evaluation would involve discussions with Deputy Prime Minister and Minister of Finance, Mr. Ekniti Nitithanprapas. She emphasized that any development benefiting the public would be welcomed.
The feedback over the past 16 days has been positive from both the public and businesses, with many shops experiencing increased activity. However, detailed data is required to conduct a comprehensive evaluation of the project.
Discussing the outlook for the Thai economy, Ms. Supajee mentioned that the current first-quarter GDP figure stands at 2.8%. She estimated the range to be between 1.5-2% and highlighted the importance of monitoring the situation between the US and Iran, which could positively impact the global economy, including Thailand.
In terms of transportation through the Strait of Hormuz, she noted that energy prices and commodity costs could help boost exports and trade. The Ministry of Commerce plans to closely monitor 61 controlled items, acknowledging that immediate price reductions may not be feasible, even with lower oil prices, due to existing business costs. Therefore, businesses are encouraged to cooperate for gradual price adjustments.