Thai officials say the government will spend 18.5 billion baht (2.418 billion ringgit) to implement economic stimulus measures and provide compensation to families of those killed or injured in last month's Thai-Cambodian border conflict.
According to foreign media reports, Thai government spokesman Chaiyarak said at a press conference on the 5th that the cabinet has approved payments of 10 million baht (1.307 million ringgit) to the families of government officials killed in the July border conflict. Injured officials will receive up to 1 million baht (130,700 ringgit) in compensation.
The families of civilian victims will receive 8 million baht (1.0456 million ringgit) in compensation, while injured civilians will receive a maximum of 800,000 baht (104,600 ringgit).
Thai Deputy Finance Minister Julawan also said the 18.5 billion baht stimulus measure approved by the cabinet is aimed at enhancing economic competitiveness and supporting student loans.
Of this, about 25 billion baht (3.268 billion ringgit) can be used to offset the impact of US tariffs. Last week, the US imposed a 19% tariff on goods imported from Thailand, lower than the 36% announced earlier this year.
Julawan said the cabinet has approved a joint statement with the US on tariffs and trade issues, but negotiations are still ongoing and the signing date has not been determined.
The University of the Thai Chamber of Commerce said on Tuesday it expects Thailand's economy to grow by 1.7% this year, lower than the Ministry of Finance's revised forecast of 2.2%, and also below last year's actual growth of 2.5%.
Thailand and Cambodia encountered their worst conflict in decades on July 24, resulting in at least 43 deaths and 235 injuries, with about 300,000 people displaced. The two countries later agreed to an unconditional ceasefire from July 29.