The Thai authorities have launched a program to distribute money to the population.

According to Reuters, the $14 billion economic stimulus program was launched on September 25. In the first stage, 14.5 million Thais from the most vulnerable sections of the population (social security card holders and people with disabilities) will receive 10,000 baht.

The implementation of the first stage is expected to be completed by the end of the month. A total of 36 million people have registered to participate in the program, out of Thailand’s population of 71 million.

“Money will flow into the hands of Thais and cause a boom in income,” Prime Minister Phathong Than Shinawatra said at an event launching the programme.

It was initially planned that the money would go into a “digital wallet” specifically designed to distribute funds through a smartphone application, but it was decided to postpone the implementation of the plan. The funds will be deposited directly into citizens’ bank accounts.

The distribution of money to residents of Thailand was announced in 2023 as one of the points of the election program of the ruling Pheu Thai party. The government has planned to allocate 450 billion baht ($13.7 billion) to make the payments.

Pheu Thai believes the move will stimulate consumption and business activity, leading to economic growth. However, according to Reuters, two former heads of the Central Bank of Thailand called the plan financially irresponsible.

Experts interviewed by the Financial Times were also skeptical about the programme’s prospects, noting that it would have a one-off effect and was unlikely to lead to economic growth.

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