Thailand govt eases spending rules for 10000 baht digital wallet
The Thai government plans to relax conditions for spending under the third phase of the 10,000 baht digital wallet programme, ensuring access for those without smartphones.
Deputy Finance Minister Julapun Amornvivat confirmed that the funds would be disbursed in the second quarter of this year.
The Economic Stimulus Subcommittee has shown readiness and confidence in the blockchain system, with banks expressing interest and cooperation.
The government aims to ease spending conditions in the third phase to facilitate money circulation in the economy.
Approximately 150 billion baht will be injected into the economy through this phase.
It is anticipated that this relaxed mechanism will boost the economy by 0.37%, and if full utilisation occurs, GDP could increase by at least 0.1%.
In previous phases, the government distributed 145 billion baht in cash to vulnerable groups and people with disabilities in phase one, and 30 billion baht to the elderly in phase two.
The Ministry of Finance’s assessment shows that 90% of the funds were spent, with the remaining 10% used for debt repayment and savings. This spending success has positively impacted economic circulation.
The third phase will see the distribution of digital money via wallets. Those without smartphones will have separate arrangements, with Prime Minister Paetongtarn Shinawatra, the chair of the Economic Stimulus Committee, set to discuss the registration procedure later this month.
Julapun assured that while the smartphone-less group is not included in the immediate third phase timeline, their funds might be disbursed around the same period.
Regarding whether the programme’s budget of 150 billion baht will suffice or if additional funds are needed, Julapun suggested awaiting the Economic Stimulus Committee’s decision, reported KhaoSod.
Julapun confirmed on February 7 that the government will proceed with the third phase of the 10,000-baht economic stimulus project, aiming to inject approximately 150 billion baht into the economy. The initiative is set to launch in the second quarter of the year.
Discussions took place during a subcommittee meeting on economic stimulus projects, with further deliberations scheduled before presenting the proposal to the Economic Stimulus Policy Committee, chaired by Paetongtarn, later this month. Once approved, it will be submitted to the Cabinet for final endorsement.
The meeting also explored streamlining fund circulation by allowing citizens to convert their allocated funds into cash or reinvest them in business activities more efficiently. Financial institutions and non-bank entities have already been consulted, with strong cooperation secured.
Latest Thailand News
