BANGKOK -Thailand has received a green light to borrow to finance its controversial 500 billion baht ($14.29 billion) digital handout scheme, a senior official said on Monday, in a boost to a government eager to stimulate a sluggish economy.
The Office of the Council of State, an independent panel that provides legal guidance to governments, had found no reason that would prohibit the government from borrowing to fund the plan, deputy finance minister Julapun Amornvivat told reporters.
The program to give away 10,000 baht (around $285) to 50 million Thais to spend in their local communities was the signature election policy of the ruling Pheu Thai party.
READ: Thai economy in ‘crisis’ and needs major stimulus – PM
The announcement came as Prime Minister Srettha Thavisin, who is also finance minister, urged the central bank on Monday to consider cutting interest rates to…
