Thailand’s election turns into a cash splash contest to win votes
From US$2,000 for newborns to debt write-offs, Thai political parties are dangling a raft of handouts in a bid to woo voters on February 8
But economists warn that in a slowing economy saddled with debt amid political gridlock, such lavish pledges are highly unlikely to revive growth.
Many Thais, like 34-year-old Ton, see the handouts as a distraction from the deeper problems afflicting the Thai economy.
“My salary has not changed in years, but everything else has gone up in price,” said the hotel worker in Bangkok who earns 18,000 baht (US$580) a month and gave only one name.
“I am getting poorer and there is nothing any party can do without fixing the entire economy.”
Ton’s frustrations reflect a broader malaise that could shape how millions vote in the February 8 poll. Household debt hovers around 90 per cent of gross domestic product and the economy grew just 2 per cent last year – the slowest among Southeast Asia’s major economies – with forecasts pointing even lower in 2026.