Thailand approves 10,000 baht cash handouts to senior citizens

Retail stocks boosted by $1.2bn second phase of digital wallet stimulus

20241119 Pichai Chunhavajira.JPG

Thai Finance Minister Pichai Chunhavajira said Nov.19 that the second phase of the government's 10,000 baht cash handouts will begin before the Lunar New Year in January. © Reuters

FRANCESCA REGALADO, Nikkei staff writer

BANGKOK -- Four million Thai senior citizens will receive 10,000 baht ($289) in cash from the government before the Lunar New Year holiday at the end of January, Finance Minister Pichai Chunhavajira announced Tuesday. 

The 40 billion baht handout is the second phase of the ruling Pheu Thai party's promised stimulus for economically vulnerable groups. Originally pitched to voters in the May 2023 election as digital cash delivered by blockchain to all Thais aged 16 and older, the 500 billion baht program has been scaled back because of budgetary and technical hurdles. 

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.