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Thai cabinet approves $1.6 billion cash handouts to boost spending

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BANGKOK (Reuters) - Thailand’s cabinet on Tuesday approved cash handouts worth 51 billion baht ($1.6 billion) in a bid to boost domestic consumption and help an economy suffering from the impacts of the coronavirus pandemic.

The handouts will help increase spending power and reduce living costs, Prime Minister Prayuth Chan-ocha told a briefing.

The plans, announced last week, will be financed by some of the government’s 1 trillion baht borrowing.

Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Ed Davies

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