Report Thailand Overhauls Stimulus Strategy, Cancels Digital Wallet Plans

[snoop1130]

File photo for reference only

 

In a bold move amid escalating global economic uncertainties, the Thai government has officially cancelled its much-anticipated digital wallet scheme, initially poised to provide 10,000 baht to each young citizen aged 16-20. Instead, more than 150 billion baht is being redirected to a new, more comprehensive economic stimulus package, aimed at cushioning the national economy from the adverse effects of international trade tensions and recent U.S. tariff measures.

 

As global trade wars intensify, with the U.S. enacting reciprocal tariffs that ripple through international markets, Thailand's exports and manufacturing sectors are feeling the strain. Finance Minister Pichai Chunhavajira emphasized the urgent need for a strategic pivot. "Despite the challenges, the government remains committed to ensuring sustained economic growth," Pichai remarked, affirming the goal of achieving over 3% GDP growth by 2025.

 

The Economic Stimulus Policy Committee, chaired by the Prime Minister, is set to convene at Government House on May 19 to hammer out the details of this new economic strategy. The upcoming measures are likely to be multi-faceted, targeting key vulnerable sectors such as tourism and real estate, which could face significant pressures if corrective steps are not taken promptly.

 

Centrally, the government plans to restructure industrial production, enhance liquidity for businesses battered by the influx of competitively priced foreign goods, and solidify the domestic market's resilience. This comprehensive package is designed to not only mitigate immediate economic disruptions but also pave the way for long-term structural adjustments.

 

A government source disclosed that a total of 157 billion baht from the central emergency and contingency budget will now be allocated to more impactful initiatives. This reallocation reflects the input of important advisory bodies, including the National Economic and Social Development Council (NESDC) and the Bank of Thailand (BoT). Both organisations had previously expressed reservations about extending the digital wallet scheme, advocating instead for a broader approach to tackling economic stresses.

 

To keep the public informed and maintain transparency in these challenging times, the government intends to communicate extensively about why the digital wallet has been dropped. The refocusing of resources aims to address the significant economic crisis head-on, benefiting a broader segment of the population and stabilizing the Thai economy for years to come.

 

  Adapted by ASEAN Now from The Nation 2025-05-16

 

 

[bdenner]

Always thought "Common Sense" and Thailand was an oxymoron! I stand corrected - or - partially after this back flip.

[Peabody]

It was a joke, not a serious promise.

Similar to Day 1 promises to end the Ukraine/Russia war, lower grocery/gas/housing/egg/car/medicine prices, removing tax on SSA, tips, and some other BS, etc., etc.

[NoDisplayName]

54 minutes ago, snoop1130 said:

the government plans to restructure industrial production, enhance liquidity for businesses battered by the influx of competitively priced foreign goods, and solidify the domestic market's resilience.

 

What's the best dressing for word salad?

[proton]

They lied then in other words

[connda]

1 hour ago, snoop1130 said:

In a bold move amid escalating global economic uncertainties, the Thai government has officially cancelled its much-anticipated digital wallet scheme, initially poised to provide 10,000 baht to each young citizen aged 16-20. Instead, more than 150 billion baht is being redirected to a new, more comprehensive economic stimulus package, aimed at cushioning the national economy from the adverse effects of international trade tensions and recent U.S. tariff measures.

I wonder how many of the suckers will fall for it again when their politicians campaign on giving all Thai citizens 10K each.  Hell, it worked once, it should work again. 

"No, really.  We really mean it this time.  See, you put the other people into office and they lied to you.  We're telling you the truth.  Put us into office and you'll all get 10K THB.  Honest!" 

[connda]

55 minutes ago, proton said:

They lied then in other words

Yep!

[connda]

1 hour ago, NoDisplayName said:

 

What's the best dressing for word salad?

[ikke1959]

Read my lips.. it will come back when there are new elections.. but I hope that the netizens are wiser now

[redwood1]

So if you were not over 60 or disabled your S**T out of luck as far as your 10,000 goes...Which by the way means most of the Thai population..

 

After weekly non stop promises on top of promises on top of absolute 100% guarantees that it was going to happen no if ands or buts over and over repeatedly....

 

I bet there are more than a few very disappointed people..

[fondue zoo]

Even in its final form it served its purpose.

[redwood1]

3 minutes ago, fondue zoo said:

Even in its final form it served its purpose.

 

What purpose?......To prove they lied repeatedly over and over...

[hotchilli]

15 hours ago, snoop1130 said:

In a bold move amid escalating global economic uncertainties, the Thai government has officially cancelled its much-anticipated digital wallet scheme, initially poised to provide 10,000 baht to each young citizen aged 16-20. Instead, more than 150 billion baht is being redirected to a new, more comprehensive economic stimulus package, aimed at cushioning the national economy from the adverse effects of international trade tensions and recent U.S. tariff measures

More broken promises....

[mfd101]

One word you never hear in this country is 'productivity'.

[newbee2022]

16 hours ago, snoop1130 said:

File photo for reference only

 

In a bold move amid escalating global economic uncertainties, the Thai government has officially cancelled its much-anticipated digital wallet scheme, initially poised to provide 10,000 baht to each young citizen aged 16-20. Instead, more than 150 billion baht is being redirected to a new, more comprehensive economic stimulus package, aimed at cushioning the national economy from the adverse effects of international trade tensions and recent U.S. tariff measures.

 

As global trade wars intensify, with the U.S. enacting reciprocal tariffs that ripple through international markets, Thailand's exports and manufacturing sectors are feeling the strain. Finance Minister Pichai Chunhavajira emphasized the urgent need for a strategic pivot. "Despite the challenges, the government remains committed to ensuring sustained economic growth," Pichai remarked, affirming the goal of achieving over 3% GDP growth by 2025.

 

The Economic Stimulus Policy Committee, chaired by the Prime Minister, is set to convene at Government House on May 19 to hammer out the details of this new economic strategy. The upcoming measures are likely to be multi-faceted, targeting key vulnerable sectors such as tourism and real estate, which could face significant pressures if corrective steps are not taken promptly.

 

Centrally, the government plans to restructure industrial production, enhance liquidity for businesses battered by the influx of competitively priced foreign goods, and solidify the domestic market's resilience. This comprehensive package is designed to not only mitigate immediate economic disruptions but also pave the way for long-term structural adjustments.

 

A government source disclosed that a total of 157 billion baht from the central emergency and contingency budget will now be allocated to more impactful initiatives. This reallocation reflects the input of important advisory bodies, including the National Economic and Social Development Council (NESDC) and the Bank of Thailand (BoT). Both organisations had previously expressed reservations about extending the digital wallet scheme, advocating instead for a broader approach to tackling economic stresses.

 

To keep the public informed and maintain transparency in these challenging times, the government intends to communicate extensively about why the digital wallet has been dropped. The refocusing of resources aims to address the significant economic crisis head-on, benefiting a broader segment of the population and stabilizing the Thai economy for years to come.

 

  Adapted by ASEAN Now from The Nation 2025-05-16

 

 

This decision will have a tremendous effect in the next elections.

Broken promise to the poor. As always and everywhere 

Clinging to power whatever it takes.

 

[ronster]

How many are now scrambling around to get the 10k they borrowed and spent thinking the government money was coming 🫤

[FlorC]

16 hours ago, snoop1130 said:

10,000 baht to each young citizen aged 16-20

Giving it to minors from 16 on ? Ridiculous.

Yes I know it will be their future voters , but still .

[edwardflory]

"""So if you were not over 60 or disabled your S**T out of luck as far as your 10,000 goes...Which by the way means most of the Thai population..."""

 

This says it all. Younger folks have the advantage of YOUTH and more employment opportunity.  OLDER folks mostly live on a FIXED INCOME and, in my opinion, would be better served with the 'digital wallet" .... that could equal 2 months of food ( a major expense )

[redwood1]

When asked whether cancelling the project might disappoint the public, the Prime Minister said the government is determined to find the most effective way to stimulate the economy and must consider all perspectives.

 

 

What?

I bet the average Thai has heard the 10,000 baht written in stone absolute 100% guaranteed pay out many hundreds of times by now..

The payout has been in the news almost daily for a few years...

 

I would be raising hell over this huge nasty lie if I was Thai......

[csmith]

Despite earlier statements suggesting the program was under review, the cancellation specifically affects the third phase targeting 2.7 million young people aged 16–20. The first two phases, which provided cash handouts to welfare cardholders, people with disabilities, and individuals aged 60 and above, were implemented as planned .

[shackleton]

I was surprised when they mentioned 16 years old -20 to receive the

money why 🤔

The old handicapped  sick  who can't work Yes I agreed they deserved it and did receive it 👍 🤑

At least some were happy 😊 

[Guderian]

Meanwhile, two days ago there was this report in the paper that must not be linked to:

 

PM says third phase of handout not scrapped
 

Prime Minister Paetongtarn Shinawatra has given an assurance that the third phase of the government’s 10,000-baht handout programme will not be scrapped.

She was responding on Thursday to reports that the government would review the third phase of its digital wallet scheme in light of the impact of US tariffs on the Thai economy.

 

etc., etc.

 

Mind you, it's the same everywhere. In the UK, the Labour government promised to live up to its manifesto promises and said it would not increase taxes on working people. It then promptly imposed a massive hike in Employers NI, often called the 'Jobs Tax', which will be paid in the end by working people receiving lower pay rises and fewer job opportunities. 

 

Plus ca change...

 

[davb]

1 hour ago, shackleton said:

 

The old handicapped  sick  who can't work Yes I agreed they deserved it and did receive it 👍 🤑

At least some were happy 😊 

I know an old Thai who lives solely on the pension and handouts from others. The money made a huge difference in his life and happiness. I don't accept the rhetoric about it being "economic stimulus", but this was a good thing to do.

[Caldera]

23 hours ago, snoop1130 said:

the Thai government has officially cancelled its much-anticipated digital wallet scheme

 

Oh look, yet another digital wallet flip-flop.