Thailand’s Prime Minister Paetongtarn Shinawatra announced a digital wallet initiative targeted at youth aged 16-20 to stimulate the economy. This plan was discussed in the context of broader fiscal policies aimed at achieving greater economic growth. The government anticipates cash disbursements by mid-2025, with evaluations of eligibility expansion to older age groups under consideration.
On March 10, 2025, Prime Minister Paetongtarn Shinawatra provided an update on Thailand’s economic initiatives via social media after a meeting of the Subcommittee on Economic Stimulus. The focus was on fiscal policies meant to enhance economic growth through government investments, private consumption, and exports, especially tourism. The Prime Minister highlighted agricultural export opportunities to Europe and increased government collaboration toward achieving these goals.
Paetongtarn expressed optimism that the Thai economy could surpass the Ministry of Finance’s growth projection of 3% for 2025. She attributed this potential to cooperation between public and private sectors in economic initiatives. “Today’s meeting served as a platform for collaborative discussions, where various agencies proposed economic stimulus initiatives… aiming to both boost the economy in the short term and establish a sustainable long-term structure,” Paetongtarn stated.
A significant proposal discussed was the launch of a digital wallet scheme targeting 2.7 million youth aged 16 to 20. This initiative seeks to stimulate the digital economy and domestic spending by requiring recipients to utilize the funds through the “Tang Rat” app exclusively within their registered districts.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira, along with other finance officials, emphasized the digital wallet system’s advantages in managing fund allocation and fostering insightful economic data for future policies. They noted that such a system would enhance financial oversight, mitigating risks seen in previous aid programs. There are plans to possibly extend the eligibility to older cohorts after comprehensive assessments, with cash distributions anticipated by late Q2 or early Q3.
In summary, Thailand’s recent economic stimulus initiatives, including the targeted digital wallet scheme for youth, showcase the government’s strategic approach to harnessing technology for economic growth. By focusing on cooperation among sectors and innovative funding methods, Thailand aims to improve financial oversight and domestic spending. Continuous evaluation will guide any expansions in eligibility, with expected financial disbursements occurring mid-year.
Original Source: asianews.network
