Revealing part of the plan to give money to people in Thailand

Reuters quoted Ms. Paetongtarn as saying that part of the Thai government's support package will be distributed in cash. Details of this policy are still being finalized and will be announced in parliament soon.

Previous pledges for the cash handout program included transferring 10,000 baht to about 50 million Thais via a smartphone app to spend locally for six months.

Thai Prime Minister Paetongtarn Shinawatra

It is not yet clear how much of the distribution will be in cash. The Thai Finance Ministry has not yet commented on this information.

The “digital wallet” money distribution program 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 economy that is slowing down compared to other countries in the region.

Thailand, Southeast Asia’s second-largest economy, is forecast to grow 2.3% in the second quarter of 2024, but experts say uncertainty is clouding the outlook. The Bank of Thailand forecasts growth of 2.6% this year, compared with 1.9% last year.

Government officials stressed the plan would comply with financial regulations.

In a speech to executives last month, former Thai Prime Minister Thaksin Shinawatra, Paetongtarn’s father, backed the plan to distribute money via digital wallets, adding that some of the cash would benefit vulnerable groups.

Ms. Paetongtarn Shinawatra, 38 years old, became Prime Minister of Thailand in August, replacing Mr. Srettha Thavisin. Her new cabinet list has been completed but not yet announced, expected to be formed in mid-September.

Source: https://thanhnien.vn/he-lo-mot-phan-ke-hoach-phat-tien-cho-dan-o-thai-lan-185240903174300902.htm