Digital Wallet Handout by Pheu Thai Government: Poor Registration Numbers Impacting Economy

The Digital Wallet Initiative in Thailand

The Thai government’s digital wallet handout program, led by the Pheu Thai government, aimed to support the economy by providing a 10,000-baht cash handout to eligible citizens. However, it has missed its initial goal of 45 million registrations by a staggering 9 million, with only 36 million people signing up before the deadline on September 15.

Budget Savings Despite Low Registrations

This shortfall means the government has saved 100 billion baht in the project's budget, but it raises questions about public confidence in the program. Finance permanent secretary Lavaron Sangsnit has not addressed whether the low numbers reflect broader skepticism towards the handout scheme.

Understanding the Registration Process

• Eligibility criteria included having an annual income below 840,000 baht.
• Approximately 50 million people were expected to qualify.
• State welfare cardholders and individuals with disability cards were prioritized.

Concerns have also been raised about registrants without smartphones, as the deadline for this group was postponed.

Future Implications for the Economy

Finance Minister Pichai Chunhavajira expects around 40 million people will eventually benefit from the program after eliminating duplicate registrations. The budget for this initiative has been secured for both the 2024 and 2025 fiscal years, indicating the government’s ongoing commitment to this economic support scheme.