Bangkok: Ekniti Nitithanprapha, Deputy Prime Minister and Minister of Finance, has announced the Bhumjaithai government's commitment to implementing the "Half-Price Plus" scheme and the BOI Fast Pass initiative, aiming to inject 480 billion baht into the Thai economy. This move is part of the government's strategy to address debt issues through its "Quick Big Win" policy.
According to Thai News Agency, the Bhumjaithai Party is focused on forming a new government swiftly to ensure the rapid deployment of budget and investment funds. This is intended to sustain the "Quick Big Win" economic policies that were promised during the election campaign. Despite a delay in the 2027 budget, it is expected to be available by November 2026, ensuring the continuation of economic stimulus efforts.
Government agencies have been urged to prepare for the 2027 budget, with a particular emphasis on the "Half-Price Plus" project. The aim is to avoid stalling short-term economic stimulus policies, which could negatively impact the Thai economy. The fourth quarter has been highlighted as a critical period for implementation. The policy will involve enhancing the skills of citizens receiving the "Half-Price" subsidy and participating merchants, a move expected to yield long-term economic benefits.
Ekniti emphasized the importance of accelerating investment without additional budget allocations, particularly through the "Thailand Plus" (BOI Fast Pass) project. With a substantial budget already approved by the Cabinet, the focus is on achieving tangible results. The initiative aims to improve government regulations to expedite approvals, facilitate investment, and attract foreign investment into the real economy.
Discussions with the BOI Secretary-General highlighted Thailand's strengths in agricultural products, which are in high demand globally. The government plans to leverage technology to reduce costs, increase farmers' income, and develop high-value processed products. This strategy is expected to boost the food industry and attract foreign investment, contributing to the development of service industries, including tourism and medical services.
The Bhumjaithai Party is also advancing its "Thailand 10 Plus" strategy to drive economic growth and increase GDP by 3%. This includes policies supporting small businesses and reducing social inequality, such as the "Small Business Plus" policy and the reopening of registration for the welfare card for low-income earners. Initiatives like the "Senior Plus" and "Community Plus" measures are designed to support an aging society and strengthen local communities, respectively.
Policies for competitive growth focus on building long-term national infrastructure, supporting equitable education, and promoting a Green Economy to achieve Net Zero by 2050. The government is also emphasizing 'Investment Plus' through infrastructure projects, 'Trade Plus' for finding new markets, and 'AI Plus' for leveraging AI technology.
The debt management plan, "Quick Big Win," includes the "Quick Debt Repayment, Move Forward Plus" policy for non-performing loans and the establishment of a disaster relief fund with insurance for all households. Savings promotion initiatives are also in place to encourage long-term savings and support retirement planning.