News in Brief

Thailand Turns to Cash

Thailand is planning to give citizens with a certain level of income and savings a financial boost by transferring funds to them through a digital wallet. It has now announced a change to the plan, saying it will distribute part of the 450 billion baht ($13.1 billion) hand out in the form of cash. Details are still being finalised.

The handout had been going to be transferred via a smartphone application with controls to ensure the funds are spent in recipients’ localities within six months. 50 million Thais were to receive 10,000 baht ($292) in credit on their digital wallets.

The handout is a stimulus programme intended to jumpstart an economy that has been lagging behind regional peers.