Supphajee signals Thai Chai Thai Plus Phase 2 extension within 2 months
MacroCommodityGeopolitics
Deputy Prime Minister and Commerce Minister Supphajee Suthamphan revealed that the government is considering extending the Thai Chai Thai Plus Phase 2 project to ease the cost-of-living burden and stimulate the domestic economy, amid rising geopolitical risks from the closure of the Strait of Hormuz and higher oil prices. When asked about the project's timeline, Supphajee held up two fingers and said this was the approach given by the Prime Minister. Whether the assistance amount will remain at 1,000 baht per month, as well as the details of how the scheme will operate, will be explained by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas. Supphajee said they would have to see how the funds could be scraped together within two months. As for rising oil prices, Supphajee said that yesterday she discussed the matter with Ekniti, along with Deputy Prime Minister Pakorn Nilprapunt and the Ministry of Energy, in a small-group format. A plan will be announced afterwards to explain the measures, which will be implemented immediately without waiting until the end of the year. She stressed that the government's economic stimulus would not consist only of the Thai Chai Thai Plus project, but would be supplemented by other measures as well, since the economic situation this time may be more severe than before, as the Thai economy continues to be affected and has not fully recovered.
