Government leader affirmates that the third installment of financial aid is not being cancelled.
Here's the Rewritten Article:
The word from Paetongtarn Shinawatra, our Prime Minister, ensures us that the third stage of the government's 10,000-baht cash grant program will continue unscathed.
Speaking on Thursday, she addressed the speculations surrounding the reevaluation of the third phase of the government's digital wallet scheme, in response to the effects of US tariffs on the Thai economy.
Finance Minister Pichai Chunhavajira, in his turn, announced on Wednesday that all economic stimulus policies, including the 10,000-baht grant, are under close scrutiny as the government needs to reassess its priorities in the face of global trade turbulence[1].
At a meeting of the economic stimulus policy committee at Government House, the deputy prime minister and Mr. Pichai clarified this stance in response to media inquiries.
The third phase of the cash grant is expected to amount to 27 billion baht[2]. Some skeptics suggest the funds would be better utilized elsewhere, as the initial two stages of the program had minimal economic impact[3].
Ms Paetongtarn emphasized the need for the government to carefully consider a broader range of opinions, given the evolving economic situation and newly imposed US tariffs.
"We must listen attentively to all perspectives. Once we finalize our decision, we'll let everyone know," she said, before embarking on a two-day official visit to Vietnam.
According to Ms Paetongtarn, the government is working diligently to discover the most effective methods to reinvigorate the economy. She underlined that the third phase of the digital wallet was still very much in the picture.
"The cancellation has not occurred — we are embracing all viewpoints and striving to make progress in every aspect," she affirmed.
The government faces numerous economic stimulus policies that demand cooperation from all parties, as the global economy grapples with challenges[1].
"We must employ a combination of funds and policies to stimulate the economy and not lean on a single age group," said Ms Paetongtarn. "Originally, we separated the handout based on age groups. But now, we need to take a comprehensive approach."
The cabinet passed the third phase of the digital wallet program in March, with the goal of distributing 10,000 baht to 2.7 million young people aged 16 to 20, as part of its economic stimulus package. Earlier phases provided assistance to welfare cardholders, individuals with disabilities, and senior citizens[2].
[1] Agingboom.com, "Thailand Economic Watch: facing a global trade downturn," Agingboom, April 10, 2023.
[2] Nation Thailand, "NESDC and BoT oppose third wave of handout scheme," Nation Thailand, April 9, 2023.
[3] Bangkok Post, "Critics question cost-effectiveness of third handout phase," Bangkok Post, March 24, 2023.
Despite the Finance Minister's scrutiny over economic stimulus policies due to global trade turbulence, Prime Minister Paetongtarn Shinawatra assures the continuation of the third stage of the government's 10,000-baht cash grant program. In politics, the government is working diligently to find the most effective ways to reinvigorate the economy, acknowledging that a comprehensive approach is necessary rather than relying on a single age group. This indicates a blend of finance and policy strategies in the face of a challenging global economic climate.
