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Thai PM: 'digital wallet' handout scheme may be delayed

By Reuters   January 19, 2024 | 06:25 am PT
Thai PM: 'digital wallet' handout scheme may be delayed
Pheu Thai's Srettha Thavisin gestures at the party headquarters before a royal endorsement ceremony after Thailand's parliament voted in favor of his prime ministerial candidacy, in Bangkok, Thailand, Aug. 23, 2023. Photo by Reuters/Athit Perawongmetha
Thai Prime Minister Srettha Thavisin said on Friday his government will move ahead with its flagship $14.3-billion 'digital wallet' handout scheme, though it may be delayed.

Srettha, who has been touting the policy as a stimulus measure necessary to revive a sluggish economy, did not specify a launch date. Earlier this week, a government official said it would be delayed beyond May.

The programme, originally slated for February, has been hounded by concerns over how it will be funded, with some experts calling it fiscally irresponsible.

The government has insisted the scheme, which would transfer 10,000 baht (around $285) each to 50 million Thais via a mobile app to spend in their local communities, would be managed carefully through cascaded borrowing.

Srettha said on Friday the government has data to prove the project is worth implementing and there would be no corruption.

He was speaking to reporters after a trip to Davos, Switzerland, where he spoke at the World Economic Forum.

 
 
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