Thai Government to Extend 10,000 Baht 'Digital Wallet' Benefit to Seniors

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Sweeping aid measures by Thailand's government are set to direct the next round of the country's 'digital wallet' scheme towards their population aged 60 and over. The decision, announced by the committee on economic stimulation projects, captained by Prime Minister Paetongtarn Shinawatra is part of the Thai government's effort to inject cash into the economy amidst the ongoing pandemic-induced challenges.

 

This move marks the second phase of the digital wallet scheme, where approximately 4 million Thai citizens in the 60-plus age bracket are targeted to receive this 10,000 baht (roughly £230) payout. The government plans to disburse these funds before the Chinese New Year, pending the completion of their digital payment system.

 

Thailand's 'digital wallet' initiative was first rolled out in September with an impressive fund of 145 billion baht from the Central Fund utilised to assist some 14.5 million disabled citizens and state welfare cardholders. As Thailand aims to sustain its economy, the cost for the next round projections stands at a hefty 40 billion baht, a figure authorised in light of assisting those vulnerable to the ongoing pandemic.

 

 

Besides the cash injection scheme, further plans were formulated to offer relief to individuals burdened by mortgage and car loan debt. A notable decision that emerged from the committee's discussions was the provision of a three-year moratorium, effectively pausing interest payments on these debts.

 

Yet, as Thailand continues its foray into advanced methods of economic stimulus, questions rise about the sustainability of these initiatives. However, one cannot deny the immediate benefits they might provide to some of the nation's most vulnerable. As Thailand steers through these uncertain times, the government's 'digital wallet' scheme is certainly one to watch.

 

File photo for reference only

 

-- 2024-11-19