Thailand to launch over $4.2 bln 'digital wallet' programme to bolster short-term development
The Thai government is expected to distribute THB145 billion ($4.28 billion) in cash under its digital wallet handout programme from late September to stimulate short-term development and support vulnerable groups.
The "digital wallet" programme is seen as a cornerstone in Thailand's plan to revive its economy. Photo courtesy of bangkokpost.com.
During a budget discussion session in the Senate on Monday, Deputy Finance Minister Julapun Amornvivat said this is a key policy in the Pheu Thai Party's election platform, aiming to stimulate the economy by handing out THB 10,000 (about $295) in cryptocurrency to all Thais aged above 16 years old.
New Prime Minister Paetongtarn Shinawatra stated that the programme will continue despite the government change last month, with part of the support potentially provided in cash. A total of 32 million people have registered to participate through the government's "Thang Rat" app.
The "digital wallet" programme is seen as a cornerstone in Thailand's plan to revive its economy, which grew by only 2.3% in the second quarter of 2024. The earlier-than-expected implementation reflects the new government's determination to boost economic recovery.
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