Thailand Accelerates 145 Billion Baht Digital Wallet Payout

[snoop1130]

 

Thailand plans to fast-track the distribution of 145 billion baht from its "digital wallet" programme, according to Deputy Finance Minister Julapun Amornvivat. Originally slated for the year's end, the initiative aims to provide immediate economic relief to vulnerable groups amid a sluggish economic recovery.

 

Julapun's announcement came during a budget debate in the senate, where he emphasised the urgency of short-term economic stimulation. The government has allocated a total of 450 billion baht for this major handout scheme, intending to transfer 10,000 baht to 50 million Thais for spending in their local communities.

 

The digital wallet project, a centrepiece of Thailand's economic strategy, is particularly crucial given the nation's recent political upheaval. Last month's unexpected removal of Srettha Thavisin as premier raised doubts about the timeline for such stimulus measures. His successor, Paetongtarn Shinawatra, has signalled a policy shift to include cash disbursements, reflecting a flexible approach to the country's immediate needs.

 

So far, 32 million people have registered for the programme. However, the scheme's effectiveness faces challenges, as funds were initially meant to be distributed via smartphone applications, excluding some without access to such technology. It's still unclear whether the first batch of payments, expected later in September and sourced from the 2024 budget and alternative funds, will be delivered in cash.

 

 

 

 

Economists, including former central bank governors, have criticised the handout as fiscally unsound. Nonetheless, the government defends the programme as essential for revitalising Thailand's economy, which saw only 2.3% growth in the second quarter and is expected to grow a mere 2.6% this year.

 

Paetongtarn has reiterated her commitment to immediate economic stimulation, aligning with her predecessor's policy goals. Her new government issued a policy statement over the weekend, set for parliamentary presentation this week.

 

As Thailand navigates its economic and political landscape, the swift implementation of the digital wallet scheme stands as a critical measure to bolster domestic activity and support its citizens.

 

File photo for reference only

 

-- 2024-09-09
 

 

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[hotchilli]

11 hours ago, snoop1130 said:

Thailand plans to fast-track the distribution of 145 billion baht from its "digital wallet" programme, according to Deputy Finance Minister Julapun Amornvivat. Originally slated for the year's end, the initiative aims to provide immediate economic relief to vulnerable groups amid a sluggish economic recovery.

How long have they been waiting so far?

Accelerate payment my a#$*

[watchcat]

11 hours ago, snoop1130 said:

"digital wallet" programme,

 

Ah, you mean the vote buying scheme?

[watchcat]

31 minutes ago, watchcat said:

 

Ah, you mean the vote buying scheme?

 

It should be  the vote buying scam. My cat jumped on the keyboard, sorry about this.

[Srikcir]

12 hours ago, snoop1130 said:

the scheme's effectiveness faces challenges

Without the digital aspects of the proposed E-Wallet scheme, this revised scheme appears to be more corruptible and abused. In the past, ie., under PM Prayut, such "gifts" to the public never improved the economy other than to increase government debt.

[john donson]

fast track, does she feel a coup is coming?

[shackleton]

Well a lot of  people looking forward to receiving this digital payout 🤑 

32 million of them so far 

No matter how many people on this site complain  

Most probably most  not entitled in the first place 🤯

[proton]

Digital wallet again, last week it was going to be cash now it's back to this, the week before they were talking about scrapping it. Just get on with it ffs.

[ujayujay]

They are not even able to agree on a 400 Baht minimum daily income, let alone this stupid digital wallet scheme. Big eyewash

[harryviking]

Wit all this lust for giving money away, I hope the Baht soon will depreciate a little to give us all a break!

[PETERTHEEATER]

From the changing information relased over the past months, the digital wallet will be leaving the depot sometime, accelerating to an unknown destination and will not know what to do when it arrives!

[StayinThailand2much]

3 hours ago, harryviking said:

Wit all this lust for giving money away, I hope the Baht soon will depreciate a little to give us all a break!

 

Despite all this 'helicopter money' the baht is strengthening... Weird!

[BangkokReady]

12 hours ago, Srikcir said:

In the past, ie., under PM Prayut, such "gifts" to the public never improved the economy other than to increase government debt.

 

Whereas under Thaksin and Yingluck they all went smoothly???

[Skeptic7]

Sure they are.

[Tim K]

Quote

The government has allocated a total of 450 billion baht for this major handout scheme, intending to transfer 10,000 baht to 50 million Thais for spending in their local communities.

 

50 Million x 10 Thousand = 500 Billion and not 450B that were allocated, can they count?

or was it 

Quote

plans to fast-track the distribution of 145 billion

 

[watchcat]

7 hours ago, Tim K said:

50 Million x 10 Thousand = 500 Billion and not 450B that were allocated, can they count?

 

Not without a calculator, ever visited a 7/11?