Thailand Plans $12 Billion Boost for Local Economy, Premier Says

(Bloomberg) --

The Thai government plans to inject 380 billion baht ($12 billion) into the economy, as the country faces its biggest outbreak so far of the coronavirus, according to Prime Minister Prayuth Chan-Ocha.

The funds will be used to stimulate local consumption and promote investment and economic activities, Prayuth said in a televised national address on Friday night, without providing a timeline.

The prime minister’s speech came after the country reported its biggest one-day jump in the number of infections on Friday, taking the total case count to more than 50,000. The government has set up field hospitals and boosted medicine supplies to prepare for a surge in patients.

“The government and I will do whatever it takes to get us through this crisis,” Prayuth said. “I firmly believe that we will overcome this terrible disease.”

©2021 Bloomberg L.P.