Digital wallet and e-refund schemes in Thailand face legal and funding challenges

The proposed digital wallet and e-refund schemes considered significant growth drivers for Thailand’s GDP next year, are potentially at risk due to legal and funding obstacles. Analysts have indicated that these challenges could lead to a substantial reduction in the implementation of these costly digital schemes in Thailand, which are scheduled for rollout next year.

Maybank Securities notes that legal obstacles in the implementation of the noted digital schemes in Thailand are perceived as the most significant hindrance to the successful deployment of these policies. Opposition parties have flagged Sections 140 of the Constitution and 53 of the State Fiscal and Financial Responsibility Act, both of which concern state funding and emergency funding limits. Additionally, academics point to potential legal issues related to Sections 20 and 62 of the Public Debt…