(Bloomberg) -- One-third of Thailand's population has registered for government cash handouts designed to soften the blow of the novel coronavirus outbreak, far exceeding the funds available for the policy.
Since registration opened on March 28, some 22.9 million people are seeking to claim the total of 15,000 baht ($455), Lavaron Sangsnit, head of the Finance Ministry's Fiscal Policy Office, said in a briefing Thursday in Bangkok. The money is due to be paid over three months.
The policy is intended to cover 9 million people at a cost of just over $4 billion, meaning many will be disappointed. Applicants will be screened to find the neediest affected by the virus outbreak who aren't already covered under the existing social safety net, Lavaron said.
Read More: Thailand Imposes Curfew to Step Up Fight Against Coronavirus
Lottery-ticket sellers, taxi and motorbike drivers, and tour guides are among those expected to get the money first, according to the government. More are expected to apply for the assistance in coming days.
Prime Minister Prayuth Chan-Ocha's ruling coalition is set to consider Friday another stimulus plan to help the economy over the next six months.
The virus outbreak has put Thailand on course for its worst economic contraction this year since the Asian financial crisis in the 1990s. Tourism and exports have stalled, and a lockdown is sapping consumer confidence.
Even before the disease flared, Thailand was the only nation in the Southeast Asian region to experience several increases in poverty since 2000, according to the World Bank.
©2020 Bloomberg L.P.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
