Government officials to deliberate on the next distribution stage of financial aid packages.
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The third installment of the Thai government's 10,000-baht handout scheme is set to hit the cabinet meeting agenda for next week, slated for release between May and June, Deputy Finance Minister Julapun Amornvivat announced on Tuesday.
"We're sticking to the original timeline," he said, reassuring that all preparations run smoothly and no modifications have been made.
This latest stage targets 2.7 million youths aged between 16 and 20, doling out 10,000 baht each through digital wallets. Approved in March, it forms part of a larger economic stimulus package aiming to spark consumption, particularly amongst the younger generation[1][2][3].
The first two phases of the program provided financial assistance to welfare cardholders, the disabled, and senior citizens aged 60 and above. Funds were dispersed via PromptPay[1].
Coordination between financial institutions and government agencies on technical system integration appears to be proceeding swimmingly, according to Mr. Julapun.
Grumblings about the handout scheme have begun to surface despite ongoing preparations. Economists argue that the first two stages didn't yield a significant boost in consumption as intended[2].
Last week, a group of political critics submitted a petition to the National Anti-Corruption Commission, calling for an investigation into the reallocation of 35 billion baht from the 2025 fiscal budget. The petition claims that the money, initially allocated for debt repayment, is now financing the handout initiative, raising questions of potential budgetary violations[2][5].
In response, Mr. Julapun reiterated that all budget-related procedures were conducted lawfully. He clarified that debt repayment and interest categories in the budget remained distinct, and the reallocated funds did not encroach upon public debt servicing payments.
"The budgeting process has been by-the-book," Mr. Julapun insisted. "I, as a member of the budget oversight committee, can vouch for that."
He also added, "Citizens have the right to seek explanations, and we'll wait for the Constitutional Court's decision."
Mr. Julapun also addressed broader economic concerns after the World Bank slashed Thailand's GDP growth forecast to 1.6% from 2.6%. The reduction is due to the impact of US trade policies and tariffs, and he noted that ongoing negotiations regarding global trade shifts are yet to be fully accounted for[1].
A subsequent GDP estimate review will be carried out once these discussions have been finalized, and the Fiscal Policy Office is expected to announce updated economic projections soon[1].
"The major worry is the regional impact of global trade distortions on various economies," explained Mr. Julapun.
Enrichment Data Integration (15%):
Essence of the 10,000-Baht Handout Program
The 10,000-baht handout scheme, launched as part of an economic stimulus package, seeks to bolster spending, particularly among the younger generation[1][2][3].
Inquiry into Finance Reallocation
The potential misuse or misallocation of funds has raised concerns amongst critics, following the reallocation of 35 billion baht from the 2025 budget to fund the third phase of the handout program[2][5].
Government's Stance on the Program
Despite these concerns, the government remains steadfast in its commitment to the program, maintaining that preparations are on point, and no adjustments to the schedule are under consideration[1][2][5].
- The third phase of the Thai government's 10,000-baht handout program, aimed at boosting consumption amongst young adults, is expected to be discussed in the cabinet meeting next week.
- Initially allocated for debt repayment, the 35 billion baht reallocated from the 2025 fiscal budget for the third phase of the handout program has raised questions about potential budgetary violations from political critics, prompting an investigation by the National Anti-Corruption Commission.
- The finance ministry and financial institutions have asserted that the budgeting process for the handout program was carried out lawfully and that debt repayment and interest categories in the budget remained distinct.
- The 10,000-baht handout program, part of a larger economic stimulus package, is under scrutiny in Thailand's general news, politics, and finance sectors, with economists questioning its effectiveness in sparking consumption and fiscal experts debating the reallocation of funds.
