Oddbean

Thailand to distribute first US$4.2b of handout scheme starting this month ========== Thailand will distribute 145 billion baht (US$4.2 billion) of its 'digital wallet' handout programme earlier than scheduled to support vulnerable groups, as stated by Deputy Finance Minister Julapun Amornvivat on September 9, 2024. The government has prepared a total of 450 billion baht (US$13.29 billion) for the programme, aiming to transfer 10,000 baht to 50 million Thais. The rollout was initially planned for the last quarter of 2024. The Thai economy grew 2.3% in Q2 2024, but uncertainty arose after the removal of Premier Srettha Thavisin last month. As of now, 32 million people have registered for the programme, which will provide funds via a smartphone application. Critics, including former central bank governors, have labeled the handout scheme as fiscally irresponsible, while the government insists it is necessary for economic stimulation, projecting a growth of 2.6% for the year. #Thailand #Economy #HandoutScheme #DigitalWallet #Stimulus #Finance #JulapunAmornvivat #SretthaThavisin #PaetongtarnShinawatra #2024 https://www.nst.com.my/business/economy/2024/09/1103373/thailand-distribute-first-us42b-handout-scheme-starting-month