Digital wallet offers temporary boost

The government’s 10,000-baht digital wallet policy could provide a short-term bump to the Thai economy and drive the Stock Exchange of Thailand (SET) index up to 1,750 points by the end of 2024, says Krungsri Securities.

By providing a 10,000-baht digital handout to everyone age 16 and older, the digital wallet policy could increase economic growth by stimulating consumption and spending, said the brokerage. The project is expected to be launched in February 2024 and implemented over a two-month period.

More than 500 billion baht of the fiscal budget is expected to be used to fund the initiative. Specific details of the plan remain unclear, including which platform would be used as well as the funding…