Bangkok: Pichai Chunhavajira, the Finance Minister, has confirmed that the government is postponing the distribution of the 10,000 baht "Digital Wallet" until external circumstances are more favorable. This decision comes as part of an adjustment to the economic stimulus plan, and is not due to a lack of funds.
According to Thai News Agency, Deputy Prime Minister and Finance Minister Pichai Chunhavajira made the announcement following the 2/2025 Economic Stimulus Policy Committee meeting, chaired by Prime Minister Paethongtarn Shinawatra. The Phase 3 economic stimulus project involving the digital wallet has been put on hold until conditions are deemed appropriate.
Pichai explained that the delay is not a result of insufficient treasury funds, but rather a strategic decision on how to appropriately utilize the budget under current conditions. The original plan was based on an anticipated economic growth of 3-3.5% and an inflation rate of 1.2-1.5%. While the economy was expected to recover steadily, changing external factors have necessitated a revision of the spending plan.
Addressing concerns about the delay being a tactic to buy time, Pichai clarified that the project is not being canceled. Instead, it will be reconsidered once the situation stabilizes. He further attributed the need for a review to the impact of the US tariff wall, which has led to downward adjustments in economic growth estimates, affecting production and employment.
Pichai also mentioned that the National Economic and Social Development Board and the Bank of Thailand have previously advocated for a review of the digital wallet payments. Meanwhile, a budget of 157 billion baht remains earmarked for addressing structural issues. This includes projects like water management for consumption and agriculture, transportation plans, tourism promotion in secondary cities, and immediate support for SMEs. The government is also focusing on issuing soft loans to assist exporters, aiming to enhance competitiveness and create jobs.