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Thailand launches first phase of "digital wallet" scheme

The Thai government on September 25 kicked off the first phase of a 14 billion USD digital wallet scheme that aims to stimulate the economy.

A view of the Bhumibol bridge (left) over the Chao Phraya river and an under-construction high-rise building (right) in the backdrop of Bangkok's skyline. (Photo: AFP)
A view of the Bhumibol bridge (left) over the Chao Phraya river and an under-construction high-rise building (right) in the backdrop of Bangkok's skyline. (Photo: AFP)

Hanoi (VNA) - The Thai government on September 25 kicked off the first phase of a 14 billion USD digital wallet scheme that aims to stimulate the economy.

The initial phase will see 10,000 THB (about 295 USD) distributed in cash to 14.5 million welfare card holders and disabled people, and is expected to be complete by the end of the month.

Speaking at an event to mark the start of the programme, Prime Minister Paetongtarn Shinawatra said that giving money to people will create a tornado of spending, adding that there will be more stimulus measures and the "digital wallet" policy will be continued.

The "digital wallet" programme is considered the foundation of the plan to revive the country's economy, which grew only 2.3% in the second quarter of 2024. The earlier-than-expected rollout reflects the new government’s determination to boost economic recovery. The “digital wallet” programme was initially structured to distribute the funds through a smartphone app with the money to be spent in local communities within six months.

Southeast Asia's second-largest economy is forecast to grow 2.6% in 2024, up from 1.9% last year./.

VNA
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