Finance Ministry to propose new THB 157 billion economic stimulus plan 

A source from the Finance Ministry has revealed that the Economic Stimulus Policy Committee, chaired by Prime Minister Paetongtarn Shinawatra, will convene at 4:00 PM on Monday (19 May) at Government House to review its previous resolutions and reassess the allocation of the 157.4-billion-baht budget earmarked for economic stimulus, in light of changing economic conditions.

Lavaron Sangsnit, Permanent Secretary of the Finance Ministry, stated that the Prime Minister has tasked the ministry with re-evaluating how best to utilise the central budget to ensure maximum effectiveness and benefit for Thailand under the evolving economic landscape.

He said the ministry has been coordinating with the National Economic and Social Development Council (NESDC) and the Budget Bureau in drafting a proposal for the revised budget allocation. It will be presented to the subcommittee in the morning of 19 May, followed by submission to the main board, chaired by the Prime Minister, in the afternoon.

While the exact details of the new stimulus plan have not yet been disclosed to avoid confusion, Lavaron explained that the original budget — earmarked for Phases 3 and 4 of the Digital Wallet scheme — is now being reconsidered to ensure alignment with goals in investment, structural reform, and support for groups affected by new U.S. tariffs.

“Whether the 157 billion baht is sufficient or impactful depends entirely on how it's used. Stimulating consumption yields different results from investment-focused programmes,” Lavaron said. “The aim is to implement short-term measures that will deliver the strongest possible boost, with the goal of disbursing the entire amount into the economy by the end of the fiscal year in September 2025.”

He added that the global economic slowdown — exacerbated by new U.S. tariff measures — has affected Thailand as well. The government will strive to maintain GDP growth between 2.1% and 2.9%, with a minimum growth target of 2% for the year.

If the proposed projects exceed the 157-billion-baht ceiling, some may be trimmed, or additional funding may be reallocated from other budgetary sources through alternative mechanisms, Lavaron added.