Thailand’s Finance Minister Pichai Chunhavajira disclosed that the economic stimulus committee chaired by Prime Minister Paetongtarn Shinawatra has given the green light to disburse THB 10,000 in cash to individuals aged 60 and above. The recipients must be registered through the ‘Thang Rath’ application and verify their identity through the KYC system.
Approximately 4 million qualified individuals are set to receive a total of THB 4 million in cash before the onset of the Chinese New Year festival in 2025 on January 29th.
The government has opted to prioritize individuals aged 60 and above for this aid, while the next phase of this process (3rd phase) is slated for distribution between April and June 2025, coinciding with the availability of the ‘Thang Rath’ application in the second quarter of 2025.
Additionally, an initiative to alleviate household debt for individuals with a maximum of one year of non-performing loans, totaling approximately THB 1.2-1.3 trillion, has also been approved. This plan entails a three-year deferral on interest payments.
This initiative has been developed collaboratively by the Thai Bankers’ Association (TBA), the Finance Ministry, and the Bank of Thailand (BOT). While the principal portion will witness a reduction in payments, the timeframe for debt repayment will be extended.
