THE third phase of the 10,000-baht cash handout has been indefinitely delayed but the Economic Stimulus Policy Committee said this postponement is not related to not having sufficient money to cover the scheme, Thai Rath newspaper said this evening (May 19)
Prime Minister Paetongtarn Shinawatra, who chaired the committee’s meeting today, was asked by reporters whether she would continue reviewing the scheme, and she replied:
“Reviewing it and the Finance Ministry will soon make an announcement.”
It is teenagers and youths from 16 to 20 years of age, totaling around 3 million, who were to receive the 10,000-baht cash giveaway in the third phase. The requirement was that they use the cash digitally with the earlier schedule being to distribute it within this second quarter of the year.
Deputy Prime Minister/Finance Minister Pichai Chunhavajira said the meeting decided to put off the 10,000-baht cash giveaway in order to align with changing economic conditions with National Economic and Social Development Board (NESDB) now projecting 1.8 percent GDP growth this year due to US having increased tariffs with this shaking up the whole world .
Thailand must review these circumstances because when the economy slows down, it affects both exports and employment.
“This is not something I alone thought about, previously NESDB stated that the cash handout should be reviewed and the Bank of Thailand had a similar opinion.
“As to when the project would be revived, we have to first look at the economic conditions,” Pichai said.
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Top and Front Page: Representative images of cash handout scheme. Photos: Thai Rath
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