As Thailand grapples with economic uncertainties stemming from global pressures, the government is set to implement its ambitious Digital Wallet Phase 3 project aimed at providing financial assistance to millions of young citizens. On May 6, 2025, Pheu Thai Party Minister Phai Phum Rojsakun confirmed that the government remains committed to rolling out the digital wallet initiative, which is expected to benefit approximately 2.7 million Thai youths aged 16 to 20 years.
Despite facing external challenges, including fluctuating U.S. import tax policies that could impact Thailand’s economy, the government insists that the timeline for the digital wallet remains unchanged. The initiative is designed to inject 10,000 baht into the hands of eligible youths, a move seen as crucial to stimulate domestic spending and support economic recovery.
"We are confident that we have sufficient budgetary resources to proceed with the Digital Wallet Phase 3. The project is targeted for implementation within the second trimester of this year, specifically between April and June 2025," stated Phai Phum. He emphasized that the government must carefully consider feedback from relevant agencies before finalizing the program, ensuring it meets the diverse needs of the population.
The Digital Wallet Phase 3 initiative is part of a broader effort to address economic challenges that have been exacerbated by external factors. Phai Phum acknowledged that the ongoing global economic situation remains precarious, particularly due to the potential for increased tariffs from the United States, which could directly affect Thailand’s export sector.
"We are closely monitoring the situation and will adapt our economic measures accordingly. The government is committed to ensuring that any stimulus package is equitable and effectively addresses the needs of our citizens," he added.
In conjunction with the digital wallet initiative, the Ministry of Finance is exploring additional economic stimulus measures. Phai Phum indicated that discussions are ongoing with various ministries, including Commerce, Agriculture, Tourism, and Foreign Affairs, to design targeted strategies that can effectively address the unique challenges faced by different sectors.
Meanwhile, Lavoran Saengsanit, the Permanent Secretary of the Ministry of Finance, highlighted that the government has a remaining budget of 150 billion baht for economic stimulus in the current fiscal year. He pointed out that this budget must be utilized effectively before the fiscal year ends, with a focus on prioritizing projects that can deliver immediate results.
"Although we have adequate funding, large-scale investment projects typically take time to yield results. We must consider smaller projects that can be implemented quickly to support the Thai economy in the short term," Lavoran remarked.
As the government prepares to launch the Digital Wallet Phase 3 project, it is also addressing the fallout from a recent scandal involving Ms. Sureewan Thippayawimol and her associates, who are implicated in a significant fraud case. On May 1, 2025, the Ratchakitcha Gazette published an announcement from the Office of the National Anti-Corruption Commission (NACC), inviting victims to file claims for the return of assets linked to the fraudulent activities.
Ms. Sureewan and her associates reportedly misled investors into believing they could profit from investing in second-hand furniture, leading to losses exceeding 10 million baht. The NACC has since identified 125 cases related to this scheme, totaling over 505 million baht in seized assets.
The NACC's order, issued on January 16, 2024, indicates that these funds will be temporarily seized as part of the investigation into the fraudulent activities. Victims are encouraged to submit claims within 90 days from the announcement, as the commission aims to facilitate restitution for those affected.
In light of these developments, the Thai government faces a dual challenge: to stimulate economic recovery while ensuring accountability and justice in cases of corruption. The upcoming Digital Wallet Phase 3 initiative represents a significant step towards enhancing financial inclusivity among the youth, but it must be executed with transparency and diligence to foster public trust.
As Thailand navigates these complex issues, the government’s ability to balance immediate economic needs with long-term structural reforms will be crucial in shaping the country's recovery path. With the digital wallet project on the horizon, stakeholders from various sectors will be watching closely to see how these initiatives unfold and impact the broader economic landscape.
