Thailand launches approximately USD305 cash disbursement program
Date
9/25/2024 9:47:57 AM
(MENAFN) Thailand launched its ambitious 10,000 baht (approximately USD305) cash disbursement program on Wednesday as part of a broader effort to stimulate the country’s economy. Prime Minister Paetongtarn Shinawatra presided over the official ceremony marking the beginning of the "digital wallet" initiative, which aims to benefit millions of Thai citizens. The government’s USD14-billion economic stimulus plan is expected to reach an estimated 45 million people, nearly two-thirds of Thailand’s total population of around 72 million.
The initiative is designed to inject money directly into the hands of Thai citizens in hopes of jumpstarting economic activity, especially for small and medium-sized businesses. “This is a policy that truly brings money into the hands of our brothers and sisters,” said Prime Minister Paetongtarn on social media platform X. She emphasized that the program is aimed at creating economic opportunities for individuals and businesses that have been struggling, offering them a "breath of life" to help reignite economic growth in the Southeast Asian nation.
In the initial phase of the program, approximately 14.55 million people will be the first recipients of the 10,000 baht disbursement, which can be accessed through their digital wallets or in cash. The prime minister made it clear that there are no restrictions on how the funds can be used, and once the money is in people's accounts, they are free to spend it immediately. The flexibility of the program is designed to encourage swift economic activity and boost consumption across various sectors of the economy.
Prime Minister Paetongtarn also expressed her confidence that the program would pave the way for new business ventures and growth opportunities. She urged people to come together and use this opportunity wisely to invest, start new businesses, or expand existing ones. "When the opportunity comes, we will definitely not let this opportunity go to waste," she said, emphasizing the government’s commitment to empowering the people and boosting the country’s economic prospects.
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