BANGKOK (AFP) – Thailand’s government unveiled a billion-dollar handout scheme yesterday that it hopes will boost the flagging economy.
More than 50 million eligible citi-zens will be able to begin registering for a digital payment of USD277 from August 1, Deputy Finance Minister Julapun Amornvivat told a news conference.
The money can be spent at registered shops and outlets but he said that those selling marijuana, jewellery or lottery tickets would not be eligible. Recipients will begin receiving the money in the fourth quarter of 2024, he said. The scheme is projected to cost around THB450 billion (USD12.5 billion). Finance Minister Pichai Chunhavajira said it was necessary to “inject money” into the system to boost Thailand’s flagging economy.
The nation’s vital tourism sector accounts for almost 20 per cent of its gross domestic product but has struggled recently.
Chinese tourists in particular have been slow to return. They previously accounted for the largest percentage of Thailand’s visitors, with around 11 million in 2019.
