Thai teens to receive Bt10,000 under phase three of cash handout

The Economic Stimulus Policy Board agreed today to issue 10,000 baht to each of about 2.7 million young Thais in the 16-20 age group around the second or third quarter, under phase three of the cash handout, Finance Minister Pichai Chunhavajira announced today.

Instead of handing out the financial support in “digital money” to all Thais aged between 16 and 60, as originally planned under phase three, Deputy Finance Minister Paopoom Rojanasakul explained that the board chose to distribute the digital money, for the first time since the launch of the cash handout, to the 16-20-year olds only, because it is in line with the economic situation and because these people are familiar with technology and will have no problem in accessing the digital money.

He dismissed a suggestion that the government is broke and is unable to distribute the 10,000 baht benefit to everyone between 16 and 60, adding that the government has set aside 150 billion baht to fund the cash handout scheme.

Disabled people and state welfare card holders were the first to receive the 10,000 baht in phase one, followed by those who are over 60 in phase two.

Under the phase three of the scheme, Paopoom said that the board had lifted restrictions on the goods which may be purchased with the digital money, but has focused on regulating the outlets that participate in the cash handout scheme, such as gold shops and liquor outlets, which are not allowed to participate.

He said that liquor available in convenience stores can be purchased using the digital money, adding that the restriction on the exchange of digital money into currency by stores has also been eased.

Paopoom said the government expects that spending from the third phase of the scheme will generate a “whirlwind that will stimulate the economy.”