Deputy finance minister clarifies aims of digital wallet

Deputy Finance Minister Julapun Amornvivat insisted on Tuesday that the 10,000 baht digital wallet handout is not aimed at political benefit, saying the goal is to stimulate the economy and set the foundation for the digital economy.

While acknowledging public concerns, he stressed that the scheme would continue as planned, adding that the Additional Budget Expenditure Act for fiscal 2024, which allocates 122 billion baht to fund the handouts, is in line with the law and fiscal discipline.

“The government had to borrow additional funds to stimulate the economy,” he said.

Replying to the Senate’s question of why the government does not offer cash instead, he said cash handouts would not stimulate the economy because people would save some of the cash rather than spend it.

He confirmed that participating stores could request cash reimbursement and reiterated that goods could be purchased from small convenience stores, community enterprises and hawkers. “The scheme will not benefit large retailers alone,” he said.

Julapun also noted that the personal data submitted to the Thang Raj application would benefit future policy-making and that the app is safe.

Stores will be allowed to register for the scheme on October 1, while those who do not have smartphones can register with government agencies from September 16 to October 15 and use their ID card when purchasing goods.