Many people able to spend in the second phase of the co-pay scheme for the first time (January 1) were seen making full use of the program today at markets and shops.
Use of the second phase of the co-pay scheme designed by the government to stimulate economic activity and ease daily living costs got underway today, with people around Huay Kwang market making full use of the program to buy fresh food for meals during the holiday. Vendors reported an uptick in business, noting that an increase in the program’s individual spending limit to 3,500 baht, further encouraged activity.
The second phase of the scheme will run for three months from January to the end of March. The Ministry of Finance projects the effort will help the nation see 3.5-4.5 percent economic growth in 2021. Users have a 3,500 baht spending ceiling across the program with a daily spending cap of 150 baht. Those who don’t begin exercising their entitlement within 14 days of receiving a confirmation SMS will have their privilege revoked. (NNT)