Economists, scholars, former Bank of Thailand officials, as well as independent organisations like the National Economic and Social Development Council (NESDC) and the Office of the National Anti-Corruption Commission (NACC) raised concerns at the high costs it will entail.
Prommin Lertsuridej, head of Pheu Thai’s economic team, said funding for the scheme would involve budget reallocation, utilising funds outside the budget to ensure no impact on Thailand’s credit rating. The plan aims to stimulate the economy by providing digital wallet top-ups to citizens aged 16 and above, which will cost 560 billion baht, with distribution scheduled to commence in February 2024.
The government established a committee led by Prime Minister Srettha Thavisin to drive the digital wallet policy, as well as a subcommittee under Deputy Finance Minister Julapun…
