Picture this: a bustling scene in Buri Ram, where a long line of people eagerly waits at ATMs outside the Bank for Agriculture and Agricultural Cooperatives. The atmosphere is electric. Why? Because in September 2024, folks are about to withdraw the much-awaited government cash handout. (Yes, that joyous occasion captured through the lens of ace photographer, Surachai Piraksa.)
This excitement is set to repeat as the third phase of the government’s 10,000-baht handout takes center stage during next week’s cabinet meeting. Get ready for its grand rollout, slated between May and June. Deputy Finance Minister Julapun Amornvivat assured everyone that the operation sticks to the roadmap. “We’re all systems go with no detours,” he announced confidently.
Approved way back in March, this phase is part of a mega economic stimulus plan. Spotlight on 2.7 million youngsters, aged 16 to 20, each holding a digital wallet poised to receive a 10,000-baht infusion.
Rewind to the initial phases: The financial magic reached welfare cardholders, the specially-abled, and the seasoned citizens above 60. All thanks to the seamless PromptPay system for swift cash disbursements.
As the gears turn in preparation, some naysayers have their eyebrows raised. Critics argue the earlier phases didn’t quite spike spending as intended. Adding fuel to the fire, a band of political skeptics recently approached the National Anti-Corruption Commission. Their grievance? A whopping 35 billion baht rerouted from the 2025 fiscal kitty, supposedly earmarked for debt repayment, now allegedly funding these handouts.
Hold your horses, says Mr. Julapun, assuring all steps followed legal protocols. “Debt payment and interest sections in the budget are separate. The reallocation isn’t pocketing public debt payments,” he clarified. Sticking to his guns, he maintained, “As part of the budget overseers for 2025, I confirm the budget was sanctioned legally and thoroughly.”
Underscoring everyone’s right to answers, he added, “It’s their prerogative to seek clarity. We’ll await the Constitutional Court’s decision.”
Switching lanes to economic matters, Mr. Julapun also addressed concerns circulating post the World Bank’s sting operation, reducing the nation’s GDP growth vision to 1.6% from a hopeful 2.6%. He pinned the shift on the US’s trade and tariff maneuvering, emphasizing global trade dynamics remain volatile, albeit ongoing negotiations.
“Forecasts right now are like looking at the sky through foggy glasses due to pending tariff discussions with the US and other partners,” Mr. Julapun elaborated. Once the smoke clears post-negotiations, another look at GDP projections will be on the cards. The Fiscal Policy Office is expected to roll out updated economic forecasts soon.
“The big picture? It’s all about how these global trade imbalances ripple across various economies,” mused Mr. Julapun. And so, with a dash of anticipation, Thailand watches as the elements of economic evolution continue to unfold.
This is going to be a disaster! Giving away 10,000 baht won’t solve anything. It’s like giving a fish instead of teaching to fish.
I see your point, Tony, but sometimes people need immediate help. We can’t just ignore those who are struggling right now.
Sure, immediate help is great but what’s the long-term plan? This money will run out and then what?
Agreed with Tony, if this is how they are using budget funds, it’s pretty short-sighted.
What about the GDP forecast? We’re focusing on handouts but ignoring economic fundamentals.
Exactly my thoughts. They must fix those macro-economic issues if we want real growth. Handouts can’t be a permanent solution.
I’m all for it. Every little bit helps, especially for vulnerable people, and stimulating spending can create a positive cycle.
This all stems from politicking. They’re using cash handouts as a way to curry favor for the elections.
Isn’t that what governments do everywhere? Use policies to sway public opinion. At least they’re trying to help.
True but it should be about well-planned policies, not quick fixes to win votes.
Does anyone know how the economic recovery process is being measured here? Seems like we might be repeating past mistakes.
Debt reallocation for this initiative is incredibly risky. I doubt it follows all legal protocols.
It’s a valid concern, but are we going to let people suffer while sorting out bureaucratic red tape?
There’s a balance to strike. We need to ensure accountability or risk deeper issues.
Digital wallets sound nifty! I wonder if they’ll actually work smoothly. We’ve seen tech implementations fail before.
They’ve worked before in other countries, why not here? It’s 2024 – get on board.
I wish they’d invest in job training and education programs instead. Give people skills, not cash.
I don’t know, guys. 10,000 baht isn’t life-changing money, but it’s a lifeline. Especially in these tough times.
It really can help when you’re scraping by. It might not be a long-term solution, but it’s something.
Exactly, Tara. We shouldn’t dismiss immediate relief just because it’s not a complete solution.
Fascinating how the dynamics of global trade factors into this. US tariffs have far-reaching effects!
Considering the opposition, it’s good the Constitutional Court is looking into this. Transparency is key.
Agreed, but let’s hope they don’t drag it out for too long. There are people in need now.
With a stalled GDP growth, aren’t these injections ineffective? They should focus more on stimulating the economy other ways.
My family didn’t qualify for phase one but will benefit now. For us, 10,000 baht goes a long way.
Happy for you, but it seems like there’s a lot of loopholes and gaps. Hopefully, more people like you benefit.
Can we please stop blaming governments for short-sighted plans when people keep demanding instant solutions?