11 July 2024

The Finance Ministry is expected to have answers within ten days to clear public doubt about the source of funding for the government’s digital wallet scheme and the actual amount of money needed, Deputy Finance Minister Julapun Amornvivat said today (Monday).

After a special cabinet meeting today, he said that he has scheduled a meeting of relevant agencies for a discussion about the setting up of an ad hoc panel to consider two urgent issues, namely debt moratoria for farmers and the digital wallet scheme.

Regarding the controversial digital wallet scheme, Julapun said that the Finance Ministry has agreed to accept feedback from all stakeholders about the scheme, including the idea of expanding the area in which recipients of the 10,000 baht under the scheme can spend the money, to cover more than 4km from their residences.

Julapun said that he personally agrees with the idea of expanding the area, but he insisted that the objective of the scheme is to stimulate the grass roots economy.

The deputy finance minister said he expects an answer from the working committee within ten days, instead of two weeks, about the potential source or sources of funding for the scheme, initially estimated at 560 billion baht, and the actual amount of money required.

All Thai nationals who are 16 or older will be eligible to receive 10,000 baht in digital money, to be wired into their accounts and spent on buying consumer products or services within six months within a 4km radius from their residences.