Thailand’s 500 billion baht ($13.53 billion) handout scheme aims to stimulate the wider population and bolster the overall economy through stimulus, a finance official said on Wednesday, in response to central bank recommendations suggesting a focus on the poor.
Confirming to Reuters, the central bank revealed it had submitted a letter to the cabinet outlining its recommendations regarding the digital wallet policy, following a government request for feedback. Earlier on Wednesday, during a press conference, the Bank of Thailand expressed no opposition to stimulus but emphasized the importance of targeting it effectively.
Having received cabinet approval on Tuesday, the policy has cleared another hurdle for implementation, offering each of the 50 million Thais 10,000 baht to spend in their…
