Thailand has begun rolling out a $14bn stimulus programme this week to distribute cash to millions of citizens, but the much-anticipated scheme may not be enough to turn around years of sluggish growth in south-east Asia’s second-largest economy.
The ruling Pheu Thai party has promised to give 45mn people a handout of 10,000 baht ($300), pitching it as the centrepiece of an economic plan to boost growth, which has lagged regional peers due to high household debt, weak exports and a slump in tourism revenue.
Since taking office in August last year, the party has struggled to implement the policy amid opposition from some politicians and the central bank as well as concerns about the cost and financing of the programme.
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