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Thai Prime Minister Srettha Thavisin reiterated on Friday that his government remains committed to its ambitious $14.3-billion ‘digital wallet’ handout scheme, designed to stimulate economic activity. However, he acknowledged the possibility of a delay in its implementation.
While Srettha, emphasizing the policy’s significance for economic revival, did not provide a specific launch date, earlier indications from a government official suggested a potential delay beyond May. Originally slated for February, the program has faced scrutiny over funding concerns, with critics labeling it fiscally irresponsible.
The proposed scheme aims to transfer 10,000 baht (approximately $285) to each of the 50 million eligible Thais via a mobile app, encouraging spending within their local communities. The government, amidst skepticism, has assured careful management of the initiative through a structured borrowing approach.
Srettha, after attending the World Economic Forum in Davos, Switzerland, stated that the government possesses data validating the project’s merit and emphasized its commitment to transparency, asserting that corruption would not be tolerated in its execution. Despite potential delays, the Prime Minister remains optimistic about the positive impact the ‘digital wallet’ scheme can have on the Thai economy.
The comprehensive plan seeks to address economic challenges and breathe new life into the sluggish economy, aligning with the government’s broader strategy for sustained growth and recovery.
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