BANGKOK, Sept 26 — Thailand has launched the first phase of its cash stimulus package, worth over 145.55 billion baht (100 Baht = RM12.62), aimed at boosting economic activity by providing direct financial support to state welfare cardholders and disabled individuals.

Prime Minister Paetongtarn Shinawatra said the initiative represents a significant economic boost, with 145.55 billion baht being injected into the economy, and it is expected to directly impact Thai citizens, particularly small businesses and struggling communities.

Paetongtarn said the stimulus package will reach 14.55 million vulnerable individuals, including 12.4 million state welfare cardholders and 2.15 million disabled persons.

"Each will receive 10,000 baht via the government’s PromptPay system (Thailand’s e-payment system) or the usual channels for receiving disability allowances.

"This money comes with no spending restrictions. Once it is transferred, recipients can use it immediately. It’s the simplest method and ensures the money reaches the people,” she said in a statement here on Wednesday.

The Thai prime minister underscored the importance of this measure as part of a broader strategy to restructure Thailand’s economy and attract new industries, thereby ensuring long-term income stability for its citizens.

She said the 10,000-baht sum is substantial enough to help many people start anew, invest in businesses, or seize new opportunities, and the government believes in the potential of the Thai people and trusts they will use this opportunity wisely.

Paetongtarn also addressed Thailand’s long-standing economic challenges, which have persisted for years due to both internal factors and the slow global economic recovery.

She noted that economic stagnation has hindered investment growth, leading to reduced new investments and sluggish cash flow issues that have disproportionately affected low-income and vulnerable groups, including disabled persons.

In the first phase of the 2024 economic stimulus package, Paetongtarn said 14.55 million vulnerable people, including 12.4 million state welfare cardholders and 2.15 million disabled persons, will receive 10,000 baht each. — Bernama