National —
On September 9th, 2024, Deputy Prime Minister and Minister of Defense Phumtham Wechayachai revealed details about the 10,000-baht digital wallet scheme, set to be discussed at the first Cabinet meeting on September 17th.
Phumtham confirmed that the Thai government would proceed, with slight modifications for public assurance. The plan now includes providing cash to the 30 million registered individuals on the Thang Raj application.
In the first phase, vulnerable groups—around 14 million people—will receive 10,000 baht in cash. This distribution, using the 2024 budget, will be transferred to existing accounts and can be spent anywhere, without restrictions on stores or products, aiming to stimulate the economy.
Once the Cabinet approves, distribution is expected by late September, remarked Phumtham.
The government plans a second phase for the remaining registered individuals, who are not in the vulnerable group. They will initially receive 5,000 baht in cash by the end of 2024, with the remaining 5,000 baht possibly distributed via digital wallets in 2025, depending on system readiness, according to Phumtham.
Phumtham emphasized that while the project has faced criticism, the government remains committed, aiming to both stimulate the economy and prepare the public for digital integration. The first phase is expected to inject around 140 billion baht into the economy, with the total impact from both phases reaching 280-300 billion baht.
This article originally appeared on our sister website The Pattaya News.
