Thailand unveils billion-dollar scheme to boost economy

BANGKOK, July 24 (AFP): Thailand's government unveiled a billion-dollar handout scheme on Wednesday that it hopes will boost the flagging economy but warned recipients would not be allowed to spend the money on marijuana, jewellery or lottery tickets.

More than 50 million eligible citizens will be able to begin registering for a digital payment of $277 from August 1, Deputy Finance Minister Julapun Amornvivat told a news conference.

The money can be spent at registered shops and outlets but he said that those selling marijuana, jewellery or lottery tickets would not be eligible.

Recipients will begin receiving the money in the fourth quarter of 2024, he said.The scheme is projected to cost around 450 billion baht ($12.5 billion).

Finance Minister Pichai Chunhavajira said it was necessary to "inject money" into the system to boost Thailand's flagging economy.