Thailand’s military government approved plans for stimulus measures worth a combined 364 billion baht ($11.2 billion) on Wednesday in a bid to revive an economy laid low by months of political unrest.
“Overall, the measures to stimulate the whole economy will use a total of 324.5 billion baht ($10 billion),” he said, adding that an additional 40 billion baht would be spent on one-off payments to farmers to support rice production.
The Bangkok Post says it is 324 billion baht with the 40 billion baht not being additional, but regardless of whether it is 324 or 364 billion baht it is a lot of money. The Bangkok Post story also states:
“This is not a populist policy. It simply helps stimulate the economy and helps farmers to cope with their burden,” MR Pridiyathorn said.
Deputy Prime Minister Pridiyathorn Devakula said the government expected that the two measures would create a multiplier effect that would immediately jump-start domestic consumption. However, the measure aimed at increasing income for farmers was not a populist policy since the appointed regime was not trying to win votes, he said.
“This is not populist policy since we do not want votes. Right now we want to simulate the economy, and the economic stimulation process should be implemented in the right areas, those that have the biggest problems and burdens,” he said.
BP: Don’t want? More like “don’t need”. Does this mean only an elected government can implement populist policies? Therefore, the obvious way to avoid the “evils” of populist policies is never to have another elected government….