Bangkok: Chulaphan revealed that the Cabinet has approved the second phase of the economic stimulus project to enhance competitiveness. He indicated that the remaining 20 billion baht is awaiting consideration by the Economic Stimulus Committee, which expects to allocate the funds to those affected by US taxpayers.

According to Thai News Agency, Deputy Finance Minister Chulaphan Amornvivat announced that the Cabinet approved the second phase of the economic stimulus program on August 5th. This program is currently under review by the Economic Stimulus Committee. The initial phase of this initiative is part of the Competitiveness Enhancement Fund, aimed at boosting the country’s competitive edge.

The second component of the stimulus measures involves the Student Loan Fund (SLF), which seeks to expand the number of new borrowers while supporting existing ones. This move is expected to further enhance the country’s long-term competitiveness. Both proposals were considered and approved by the Cabinet without any objections.

On the subject of the remaining 20 billion baht, Mr. Chulaphan mentioned that additional consideration is required. During the Economic Stimulus Committee’s review, factors such as tariff negotiations were discussed, although no definitive conclusions were reached at that time. However, it has now become evident that a 19% tariff rate will be obtained, sparing the need to pay for everything. While many products have been opened up, specific products requiring protection, particularly those concerning certain groups of farmers, remain safeguarded. This outcome is seen as beneficial for Thailand. With this clarity, further discussions are needed to determine how to utilize the remaining 2025 economic stimulus budget. The plan is intended to provide relief to those impacted by US tariffs, though detailed criteria are yet to be established.