Government leader verbally confirms that the third installment of financial aid is not cancelled.
For the Lowdown:
No worries, mate! The third round of the govermment's 10k cashola plan is still on the table, according to Prime Minister Paetongtarn Shinawatra, though reports hinted at a review in the light of US trade feuds.
Finance Minister Pichai Chunhavajira confirmed on Wednesday that all stimulus policies, including the 10k giveaway, are under scrutiny as the government needs to assess its financial priorities in the face of global economic turmoil.
Ms. Paetongtarn asserted on Thursday that the ongoing economic turbulence and US tariff policies necessitate a listening ear to various opinions.
"We'll sift through every bit of advice we receive," she stated before jetting off to Vietnam. "If we reach a final decision, we'll make sure to let everyone know."
Reports have recently surfaced, suggesting that the government decided to nix the third phase of the digital wallet handout for 2.7 million youngsters between 16-20. The funds are being reallocated towards a new economic relief plan designed to mitigate the fallout from US tariff hikes.
This new plan focuses on industrial restructuring and liquidity support for troubled businesses, according to sources[2][3].
Originally, the handout was targeted at specific age groups. However, with the changing tides, the government has agreed that it needs to approach the situation holistically, as the world economy battles the brunt of US tariffs.
"We've got to adjust our strategies to cater to the entire economy, not just a single demographic," explained Ms. Paetongtarn. The third phase of the digital wallet plan remains in the pipeline, and the government continues to seek counsel on the matter.
In March, the cabinet approved the third phase of the digital wallet program, providing 10k to over 2.7 million welfare cardholders, disabled individuals, and senior citizens[1]. The first two phases only had limited economic impact, hence criticism from some quarters suggesting better allocation of funds in other areas.
[1] - https://www.reuters.com/article/us-thailand-economy-handouts/thailand-to-rocket-10-billion-fuelled-by-new-stimulus-measures-idUSKCN1RE14C[2] - https://www.bloombergquint.com/global-economics/thailand-gunning-for-cash-handouts-to-damp-tariff-impact[3] - https://www.nationmultimedia.com/business/Thailand-plans-cash-handouts-for-ita-workers-to-offset-US-tariffs-30399386[4] - https://www.reuters.com/article/us-asia-economy-tariffs/thailand-plots-easing-of-fiscal-policy-amid-global-trade-turmoil-idUSKCN1RF14M
- In light of the shifting economic landscape due to US tariffs, the third phase of the government's digital wallet handout, initially intended for youngsters, may be reallocated to a new personal-finance relief plan aimed at mitigating the impact on the entire economy.
- Finance Minister Pichai Chunhavajira's confirmation of the review of all stimulus policies, including the 10k cashola plan, indicates a potential focus on reassessing personal-finance priorities in the face of global economic turmoil.
