The Thai Prime Minister announced a digital wallet scheme targeting youths aged 16-20 during a meeting on economic stimulus strategies. The meeting focused on enhancing government investment and consumer spending, with emphasis on tourism and agricultural export opportunities. Plans for fund disbursement through a digital application are expected to be implemented by Q2 or Q3 of 2025, with provisions for individuals lacking mobile access.
In a recent update, Prime Minister Paetongtarn Shinawatra highlighted the focus on economic stimulus at a March 10 meeting. Discussions revolved around strategies including government investment, boosting private consumption, and enhancing exports. She emphasized tourism as a fundamental economic driver, referring to her participation in ITB Berlin, which showcased opportunities for expanding Thai agricultural exports to Europe and fostering inter-ministerial collaboration.
Paetongtarn expressed optimism about surpassing the Ministry of Finance’s projected 3% economic growth for 2025, attributing this potential to effective public-private partnerships.
During the meeting, a significant proposal was presented concerning a digital wallet initiative aimed specifically at 2.7 million youths aged 16-20. The goal of this initiative is to stimulate the digital economy and domestic spending, requiring participants to utilize the funds through the “Tang Rat” application strictly within their respective districts.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira, along with his fellow deputies, stressed the benefits of a digital wallet for efficient fund distribution and economic data analysis, which can inform future policymaking. Officials further noted that digital distribution would enhance financial oversight and mitigate risks observed in previous aid initiatives.
In anticipation of wider economic considerations, the government is contemplating potential eligibility expansion to older demographics pending further assessments. Cash disbursements are projected for late Q2 to early Q3, while continuous evaluations of fiscal responsibility and long-term sustainability will persist. Additionally, measures will be in place to assist individuals without mobile access.
In conclusion, Prime Minister Paetongtarn Shinawatra emphasized the importance of collaborative economic stimulus discussions focused on government investments and consumer spending. The proposed digital wallet initiative for youths aims to bolster the economy by facilitating domestic spending and utilizing advanced digital platforms. The initiative reflects a commitment to improving financial oversight and adapting economic strategies for broader demographic coverage.
Original Source: asianews.network
