Thailand bets on B500bn cash handout to revive economy
The government expects the rollout of a long-delayed cash handout to most adult citizens to help reverse a slump in economic activity and tackle the highest household debt in Southeast Asia.
The distribution of 10,000 baht each to all Thais 16 years and older under a certain income threshold in the fourth quarter will fire up purchasing power, revive manufacturing and boost overall confidence in the economy, Finance Minister Pichai Chunhavajira said at a press conference on Wednesday.
Beneficiaries can sign up for the so-called digital wallet from Aug 1 to Sept 15 through the Tang Rath application, which is already widely used to access dozens of government services. Those without smartphones can register from Sept 16 to Oct 15 by using their ID cards.
