Thailand Implements Digital Wallet Initiative for Youth Economic Empowerment
Thailand’s digital wallet scheme, targeting 2.7 million youth aged 16-20, aims to boost the economy. Prime Minister Paetongtarn Shinawatra emphasized the significance of fiscal policies and public-private partnerships for sustainable growth, particularly in the context of tourism and agricultural exports. Cash disbursements are expected by late Q2 or early Q3, with continued assessments for inclusivity and oversight.
On March 10, 2025, Prime Minister Paetongtarn Shinawatra provided insights via social media after a Subcommittee on Economic Stimulus meeting. The focal point was on fiscal strategies for stimulating economic growth with an emphasis on government investments, consumer spending, and export expansions.
During this meeting, the Prime Minister pointed out tourism as a significant contributor to the economy, referencing her recent attendance at ITB Berlin. The event highlighted the potential for Thai agricultural exports to penetrate European markets and foster inter-ministerial collaborations.
Paetongtarn expressed optimism about Thailand’s economic prospects, suggesting that growth could surpass the Ministry of Finance’s anticipated 3% for 2025. She emphasized that cooperative efforts between public and private sectors play a key role in this economic outlook.
“Today’s meeting served as a platform for collaborative discussions, where various agencies proposed economic stimulus initiatives within their respective responsibilities. These initiatives adhere to relevant legal frameworks, aiming to both boost the economy in the short term and establish a sustainable long-term structure,” stated the Prime Minister.
Among the proposals, a prominent initiative is a digital wallet program aimed at engaging 2.7 million registered youths aged 16-20, designed to invigorate the digital economy and stimulate local spending. Funds will be accessible through the “Tang Rat” application, limited to usage within their designated districts.
Deputy Prime Minister Pichai Chunhavajira, alongside Finance Minister Julapun Amornvivat and Deputy Finance Minister Paophum Rojanasakul, discussed the benefits of implementing a digital wallet system. They pointed out that such a system enhances fund distribution and aids in economic data analysis, facilitating more informed policymaking.
Officials highlighted that the digital distribution mechanism improves financial oversight and minimizes risks associated with earlier aid initiatives. Moreover, the government is contemplating adjustments to the eligible age bracket after further assessments.
Cash distributions are slated to commence by late Q2 or early Q3, accompanied by ongoing evaluations of fiscal discipline and long-term economic viability. Measures will be established to assist individuals with limited mobile access to benefit from this program.
In summary, Thailand’s government is instituting a digital wallet initiative aimed at youth to stimulate economic engagement. With a focus on fiscal policies, cooperation between sectors, and the enhancement of tourism and exports, officials are optimistic about exceeding projected economic growth. The digital wallet program underscores a commitment to modernized financial oversight and inclusivity in economic benefits, with broader inclusion anticipated in the future.
Original Source: asianews.network
