Thai Prime Minister Pathumthan Shinawatra announced that some of the government’s 450 billion baht (US$13.1 billion) “digital wallet” handouts will be distributed in cash, marking a shift in flagship policy.
The plan, which initially aimed to distribute 10,000 baht digital credits to 50 million residents to use in their communities, is currently being finalized with details expected to be revealed in an upcoming parliamentary policy statement.
The amount of the budget to be allocated as cash is unknown. Reuters Attempts to contact the Deputy Minister of Finance for further details were reportedly unsuccessful.
The move comes just two weeks after 38-year-old Pathomtharn was elected Thailand’s youngest prime minister, following the dismissal of his predecessor, Suredha Tavisin, a key proponent of the digital wallet initiative.
The digital handouts, a centrepiece of the ruling Pheu Thai Party’s election pledge, are aimed at stimulating Thailand’s economy, which grew 2.3 percent in the second quarter of this year, lagging behind other countries in the region.
But the payments have been criticised by economists and former central bank governors who say they are fiscally irresponsible.
The government delayed the program due to funding concerns but insists it will adhere to fiscal discipline when it is implemented in the last quarter of the year.
Paethonthan, the third member of the Shinawatra clan to hold the prime ministerial position after his father, Thaksin, and his aunt, Yingluck Shinawatra, continues to drive this effort.
In a recent speech, former Prime Minister Thaksin Shinawatra said: Supported It included cash transfers and emphasized their importance for vulnerable groups.
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