The Pheu Thai Party‘s proposed digital handout scheme, requiring around 500 billion baht, could potentially boost Thailand’s GDP growth by 3% in the next year, according to the Bank of Thailand. Sakkapop Panyanukul, the central bank‘s director of the economic and policy department, mentioned the digital handout contribution depends on the economic multiplier.
The 3% GDP projection uses a cash transfer model, but definitive forecasts await more digital handout scheme details. The program suggests a digital wallet with 10,000 baht for citizens aged 16 and above, spent locally within six months to stimulate the economy and aim for 5% GDP growth.
Although the August consumer sentiment index dropped due to government concerns, Sakkapop anticipates improvement once a government forms. The central bank awaits the new government’s economic policy…
