Less than 40 million Thais expected to join digital wallet scheme
The Government of Thailand anticipates fewer than 40 million participants in its flagship digital wallet handout scheme, with the initial phase set to benefit 14.5 million vulnerable individuals starting yesterday, according to a Finance Ministry official.
Under this stimulus programme, the government plans to distribute 450 billion baht to 45 million people, with each registered participant receiving 10,000 baht to spend locally within six months.
Approximately 36 million people have registered for the scheme so far, with some registrations overlapping with the vulnerable groups, said Lavaron Sangsnit, the Finance Ministry Permanent Secretary.
“From the current data, it is expected that the number of participants in the project will not reach 40 million, which will allow for more flexibility in budget management.”
Lavaron also mentioned that there are about three million people without smartphones, which might affect their participation in the digital wallet scheme, reported Bangkok Post.
The second phase of the handout is anticipated to commence early next year.
ORIGINAL STORY: Digital wallet delay: No green light before year-end
The highly anticipated second phase of Thailand’s digital wallet initiative is on ice, with Deputy Prime Minister and Finance Minister Pichai Chunhavajira revealing that it’s unlikely to roll out before the end of the year.
In a brief meeting with the press today, Pichai highlighted the need for a cautious approach, stressing that factors like timing and continuity must be thoroughly evaluated before pushing ahead.
When quizzed about the fate of the leftover funds, Pichai hinted that the government may be eyeing alternative investments. He pointed to small-scale infrastructure projects as a potential avenue, stating that such investments could play a pivotal role in strengthening the nation’s economy and bolstering its infrastructure.
“The government is committed to the digital wallet initiative.”
However, Pichai was quick to add that long-term benefits take precedence.
“We must prioritise projects that will have a lasting impact on the country.”
While the digital wallet remains a key policy, Pichai emphasised that no decisions would be made lightly. Each investment will be scrutinised to ensure it contributes meaningfully to the nation’s development.
