At this moment, it must be said that the economic stimulus program "Khon La Khrueng Plus" is truly heating up. Looking at the latest figures (as of 8 Nov 2025 GMT+7), it’s clear the activity is very lively. In just the first 11 days of spending, over 25 billion baht circulated, averaging about 2.27 billion baht flowing daily into the grassroots economy.
However, what is attracting the most attention is not only the current phase's success but also the strong rumors that the government is moving quickly to launch "Khon La Khrueng Plus Phase 2" right before the end of 2025.
This time, the focus is to cover those who might have been left out or never received benefits in the previous round. With this new economic stimulus signal sounding, of course, investors like us must promptly look into where the new funds will flow and which stock groups will directly benefit.
Where will this incoming new money flow? Which stock groups will stand out, ready to fully reap the benefits from this?
One question many wonder about is "Will those who received benefits in the first phase continue to receive them in phase 2?" Securities analysts from Krungsri Securities have stated that referring to preliminary information from the Permanent Secretary of the Ministry of Finance regarding the Phase 2 measures,
the initial answer is "There is a high likelihood they will continue to benefit," but the system is currently being designed to allocate rights as fairly as possible, especially for those who never received benefits in the first phase.
One interesting idea is to ensure fairness: assuming participants in the first phase each got 2,000 baht, in phase 2, new registrants (those who never received benefits) might receive 4,000 baht to make the total benefits more balanced.
Which Krungsri Securities also indicated that if this framework holds, based on about 20 million existing beneficiaries, and each gets an additional 2,000 baht (with the government contributing 2,000 and citizens adding 2,000),
then 80 billion baht of new money would immediately enter the economy—split evenly as 40 billion baht from the government and 40 billion baht from the public. This amount represents about 0.43% of GDP.
Meanwhile, Asia Plus Securities' research department points out this is very important for the economy because they estimate that if the government injects around 44 billion baht in this round (based on data from the past five phases), it could stimulate GDP growth by approximately 0.2% - 0.3%.
This is crucial money that will help "support" the economy to avoid entering a Technical Recession.
Naturally, stimulating grassroots spending focusing on four main groups (restaurants, small retailers, services, pharmacies) means that the stocks benefiting fully will be those linked to domestic purchasing power.
Prominent stocks expected to benefit directly include retail companies like TNP, KK; beverage companies such as ICHI, CBG, SAPPE; and service and transportation groups like BEM, BTS, and SPA.
Meanwhile, Krungsri Securities has listed stock groups expected to gain directly from increased purchasing power as follows:
This is definitely a story to watch closely. Investors should await official details from the government, but for those looking for short-term investment themes, this "list" is certainly worth researching further.
Read stock and investment news with Thairath Money at
Follow the Facebook page: Thairath Money at this link