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Thailand’s scheduled digital wallet program, aimed at disbursing 10,000 baht (approximately $274) to citizens over 16 years of age, has encountered a delay. Critics are now calling for an investigation by the country’s electoral commission.
As originally reported by the Bangkok Post, Thailand’s Deputy Finance Minister, Julapun Amornvivat, announced the delay, pushing the planned February 2024 launch of a new digital wallet to a later date to allow for further system development.
The Thai government intends to utilize this digital wallet to distribute 10,000 baht to eligible citizens as part of an effort to boost the local economy.
Amornvivat stressed that the government requires additional time to enhance the security of the digital grant wallet’s infrastructure but reaffirmed that the launch is still set for the first quarter of 2024.
In accordance with reports from the country, the sub-committee responsible for the program is currently deliberating the source of funds for the initiative. The digital wallet scheme proposed by the Pheu Thai Party is estimated to cost 548 billion baht (equivalent to $15 billion).
Previously, the government had anticipated that the initiative would stimulate a 5% increase in economic growth next year, with Amornvivat suggesting that tax revenue generated from heightened economic activity would contribute to covering some of the program’s costs.
Former Thai Senator Rosana Tositrakul, a vocal critic of the project, has called for an investigation by the election commission into the legality of the proposed scheme.
As the Thai government contemplates using the national budget to finance the digital handout, concerns over funding gaps and the potential accumulation of debt to support the initiative have spurred questions about the scheme’s legality.
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