Thailand goes ahead with US$14bil handout

Surprise windfall: Vendors waiting for customers at a market in Bangkok. Some 50 million Thais are set to receive 10,000 baht each by May next year. — AFP

BANGKOK: Thailand unveiled a US$14bil cash handout to jumpstart its economy, trimming the size of the planned stimulus only slightly despite warnings from some economists and former central bankers that the outlay may stoke inflation and widen the fiscal deficit.

The so-called digital wallet programme will cover 50 million people with each receiving 10,000 baht that may be ready for disbursal by May, according to Prime Minister Srettha Thavisin.