The Thai government is launching a digital wallet scheme on August 1 to provide 10,000 baht to 45 million eligible nationals, aiming to stimulate the economy by injecting 450 billion baht.
Introduction to the Digital Wallet Stipend Program
The registration for the 10,000-baht stipend under the Digital Wallet program officially started on August 1st. The stipend aims to stimulate the economy and will be available for use in the fourth quarter of the year. This program is expected to inject 450 billion baht into the economy and benefit 45 million Digital Wallet users in Thailand.
Overview of the Digital Wallet Scheme
- The digital wallet scheme is a 450-billion baht initiative launched by the Thai government.
- It aims to increase money circulation, ease the cost of living burden, improve people’s lives, create job opportunities, and support digital technology development.
- Eligible Thai nationals can register from August 1 to September 15, with certain criteria for eligibility.
Economic Impact and Funding of the Scheme
- The Digital Wallet scheme is expected to trigger four economic “whirlwinds” that will boost economic activity.
- The program will be funded through a combination of 2024 and 2025 fiscal year budgets, with reassurances from the Deputy Finance Minister.
Source : Digital Wallets Poised to Spark Economic ‘Whirlwinds,’ Says Thai Finance Minister
