BANGKOK, Thailand – The government’s 2024 economic stimulus program is poised to provide a much-needed financial boost to millions of citizens, focusing on low-income groups and individuals with disabilities. With over 145 billion baht expected to flow into the economy, the initiative is seen as a key driver for promoting financial security and revitalizing the nation’s economic growth.
Prime Minister Paetongtarn Shinawatra highlighted the program’s role in addressing long-standing economic challenges, which have been exacerbated by global economic slowdowns, conflicts, and recent floods. She expressed confidence that the initiative would bring immediate relief to those hardest hit, while also helping to stimulate broader economic recovery.
A key feature of the first phase of the program is the distribution of a 10,000-baht stipend to 12.4 million welfare cardholders and 2.15 million individuals with disabilities. This financial aid is not only intended to provide immediate relief but also to empower recipients by giving them the flexibility to spend on essential goods, services, or even income-generating opportunities.
Beyond the short-term benefits, Prime Minister Shinawatra emphasized the government’s commitment to long-term economic solutions. This includes plans for the second phase of the initiative which will distribute the 10,000-baht fund via the digital wallet system. The move is expected to also modernize Thailand’s financial system. The digital wallet will promote efficient, transparent, and accessible transactions, strengthening the foundation of the digital economy and supporting sustainable growth.
The Premier concluded that, with this stimulus program, the government is confident that the infusion of cash will not only uplift vulnerable groups but also create a ripple effect across local markets, businesses, and industries, helping to secure Thailand’s path to economic recovery. (NNT)
