Thailand’s cabinet has approved the digital wallet scheme, under which 14.5 million vulnerable and disabled Thais will be the first to receive the 10,000 baht cash benefit. The money will be wired into their bank accounts between 25-30 September, Finance Minister Pichai Chunhavajira says.
According to Pichai, the remaining 30 million that have subscribed will receive 10,000 baht as promised by the government. However, an economic stimulation committee is yet to be set up will define when the payments will be made and whether they will be in cash or “digital money”, or both.
The Thai government justifies the digital wallet scheme by Thailand’s slow economic growth, the contraction of the production of industrial goods and agricultural produce during the first half of this year, the contraction of domestic consumption over the past seven months, increased household debt, slow global economic recovery and a fall in the consumer and SME confidence indices.
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