BANGKOK - Thai Prime Minister Srettha Thavisin on Wednesday tabled an additional 122 billion baht ($3.4 billion) budget for the 2024 fiscal year for his signature stimulus program.

"The government needs the budget to stimulate the economy by boosting money circulation in various areas," Srettha told parliament.

The 500 billion-baht ($13.9 billion) program is aimed at jump-starting Southeast Asia's second-largest economy, which grew only 1.9 percent last year

The 500 billion-baht ($13.9 billion) program is aimed at jump-starting Southeast Asia's second-largest economy, which grew only 1.9 percent last year.

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Srettha said the economy was expected to grow 2.5 percent this year and extra budget spending would adhere to fiscal discipline.

The program, a giveaway of 10,000 baht each to 50 million Thais to be spent locally within six months, has been delayed to the fourth quarter of this year due to issues finding funding sources.

"There is a need to stimulate the economy," Finance Minister Pichai Chunhavajira told the debate.

"If nothing is done, there will definitely be a crisis."

READ MORE: Official: Thailand to fund $13.8b stimulus scheme with 2024, 2025 budgets

The government on Monday said it had the approval of an intra-agency committee to use 2024 and 2025 budgets for the so -called "digital wallet" program.

The panel includes members of the central bank, which has voiced concern about the program and has recommended it be more narrow and focused on the poor.

The stimulus plan was the ruling Pheu Thai Party's flagship policy in the 2023 election.