Prime Minister Paetongtarn Shinawatra announced a digital wallet initiative for 2.7 million youth aged 16-20 during a meeting focused on economic stimulus. The discussions emphasized tourism and agricultural exports, aiming for above 3% economic growth in 2025. Enhanced financial oversight and aid accessibility were key topics, with cash disbursements expected in mid-2025.
In a recent update, Prime Minister Paetongtarn Shinawatra informed the public via social media about the outcomes of the Subcommittee on Economic Stimulus meeting held on March 10. The committee focused on fiscal policies aimed at stimulating economic growth through government investment, increased private consumption, and bolstered exports.
During the meeting, Prime Minister Shinawatra emphasized the importance of tourism as a critical economic driver. She referenced insights gained from her attendance at ITB Berlin, which highlighted potential expansions for Thai agricultural exports to European markets while fostering collaboration between various government ministries for optimal impact.
Shinawatra conveyed optimism regarding Thailand’s economic prospects, suggesting that the growth rate may surpass the Ministry of Finance’s projected 3% for 2025. She attributed this potential success to robust cooperation between the public and private sectors.
A significant proposal that emerged from the discussions was the introduction of a digital wallet scheme aimed at 2.7 million registered youth aged 16-20. This initiative seeks to stimulate the digital economy and increase domestic spending, with recipients required to utilize funds via the “Tang Rat” application within their designated districts.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira, along with his deputy ministers, underscored the benefits of a digital wallet system, including improved fund allocation efficiency and enhanced economic data analysis for future policymaking. Officials remarked on digital distribution as a means to bolster financial oversight and mitigate risks seen in prior aid strategies.
The government plans to issue cash disbursements by late Q2 or early Q3. They will continue to monitor fiscal discipline and ensure long-term economic sustainability. Additionally, provisions will be made to assist individuals lacking mobile access to participate in the program.
In conclusion, Thailand’s initiative to implement a digital wallet scheme for youth demonstrates a strategic move towards stimulating economic growth through enhanced digital engagement. The discussions highlighted tourism and agricultural exports as focal points for economic stimulation. With expectations of delivering financial support while maintaining rigorous evaluation processes, the government appears committed to fostering a sustainable economic future.
Original Source: asianews.network
