Introduction to the Scheme

Thailand is set to revive its economic stimulus efforts with the resumption of the digital wallet scheme in the second quarter of 2025. This initiative aims to distribute 10,000 baht (approximately $300) to an estimated 45 million people, encouraging local spending and boosting domestic consumption.

Key Features of the Scheme

The scheme, part of a broader 450 billion baht ($13.4 billion) stimulus package, has already seen about 17.5 million recipients since its inception last September. The upcoming phase will utilize an open-loop payment system, connecting various financial institutions across Thailand.

Implementation Details

Eligibility Criteria

To qualify for this phase, citizens must be aged between 16 and 59, have registered via the Thang Rat app, earn less than 840,000 baht annually, and hold savings below 500,000 baht in all bank accounts.

System Development

Finance Minister Pichai Chunhavajira confirmed that system testing is underway this month to ensure readiness for the second-quarter launch. This strategic move aligns with Thailand’s push for enhanced financial inclusion and digital payments infrastructure.

Economic Impact and Future Plans

Current Economic Status

Despite initial optimism about economic growth driven by such stimulus measures, Bank of Thailand Governor Sethaput Suthiwartnarueput noted that their impact was less pronounced than expected. The central bank forecasts a growth rate of 2.9% for 2025.

Future Stimulus Measures

The Thai government plans further discussions on additional economic measures later this month under Prime Minister Paetongtarn Shinawatra’s leadership. These could include debt relief initiatives aimed at tackling high household debt levels in Thailand.

You May Also Like

Thailand Challenges ASEAN Education Ranking, Citing Lack of Evidence

Thai Education Council Disputes Low Ranking OEC Questions Methodology and Data Sources…

Bridging the Digital Divide: Free Devices for High School Students

High school students across the nation are set to receive free tablets…

Thailand and Vietnam Rising to New Heights of Enduring Friendship

Celebrating the Legacy of King Bhumibol Adulyadej December 5 marks a significant…

Thailand Prepares Legal Action Against Cambodia for Hospital Damages

Lawsuits Target Border Clash Losses Financial Impact on Healthcare Facilities Thailand’s Ministry…