Thailand cabinet approves $1.29 billion consumer subsidy extension

(Adds details in bullets) BANGKOK, Sept 22 (Reuters) — Thailand's cabinet has agreed to spend 43 billion baht ($1.29 billion) to extend a consumer subsidy scheme for another two months to help ease living costs, the finance minister said on Tuesday. The extended scheme will offer 1,000 baht each ($30) to registered people to use until the end of November, Finance Minister Ekniti Nitithanprapas told a briefing. The extension will help the public cope with high oil prices linked to the Middle East crisis and support the economy, Ekniti added. Ekniti said he is still confident that the economy will grow 2.5% this year, the same forecast the ministry projected in July. The extension will be financed by remaining funds allocated for relief measures under a broader 400 billion borrowing plan to address the impact of high oil prices. The first phase of the subsidy scheme, which started in June and ends this month, covered about 40 million people, with each receiving 1,000 baht per month, officials have said. The government subsidised 60% of eligible purchases, capped at 200 baht per person per day. ($1 = 33.25 baht) (Reporting by Kitiphong Thaichareon, Orathai Sriring and Chayut Setboonsarng; Editing by Martin Petty) ((chayut.setboonsarng@thomsonreuters.com; +66854849033)