Thailand begins cash handouts to 14.5 million people

An estimated 45 million people will receive 10,000 baht (over 7.5 million VND) each under the above cash distribution plan. The Thai government affirmed that this plan will boost economic activity, according to Reuters.

The first phase will give 10,000 baht in cash to 14.5 million welfare card holders and people with disabilities and is expected to be completed by the end of the month.

A bank employee collects baht notes at Kasikornbank in Bangkok, Thailand, on January 26, 2023.

"Cash will be put into the hands of Thais and create a spending frenzy," Thai Prime Minister Paetongtarn Shinawatra stressed at an event marking the start of the cash handout plan.

The initial “digital wallet” support plan is structured to distribute money via a smartphone app, with the money to be spent in local communities within six months.

Thailand's digital wallet program expects to attract 40 million participants

On September 3, Ms. Paetongtarn said that part of the Thai government's support plan will be distributed in cash.

“There will be more stimulus measures and we will continue to implement the digital wallet policy,” Ms. Paetongtarn stressed today.

The "digital wallet" money distribution plan is said to be a populist policy that the Pheu Thai party in the ruling coalition promised to implement during the election campaign, aiming to revive the Thai economy that is slowing down compared to other countries in the region.

However, the plan has been criticized by some economists, including two former central bank governors, as fiscally irresponsible. The government denies it, but has struggled to find funding.

Thailand's economy is expected to grow 2.6% this year after growing 1.9%, lagging behind regional peers, Reuters reported.

Source: https://thanhnien.vn/thai-lan-bat-dau-phat-tien-mat-cho-145-trieu-dan-185240925113736516.htm