Thailand Approves $3.4 Billion Budget for 10,000 Baht Digital Wallet Program

Aug 1, 2024, 01:11 AM

Thailand's parliament has passed an additional budget of 122 billion baht ($3.4 billion) to fund a digital wallet program, which aims to provide a cash handout of 10,000 baht to millions of beneficiaries. The bill was approved in its third reading with a vote of 291-161. The program, spearheaded by Prime Minister Srettha Thavisin and the Pheu Thai led government, is intended to stimulate growth in Southeast Asia’s second-largest economy. However, the launch of the registration process has faced significant technical issues, with the Thang Rath application crashing twice, including at the start of the registration time. Deputy Finance Minister Julapun Amornvivat acknowledged the issues. The scheme has faced criticism for being costly and potentially unsustainable.