The launch of Thailand’s Digital Wallet project, initially planned for Q4 2024, has been delayed following the recent Constitutional Court ruling that removed Prime Minister Srettha Thavisin and his entire cabinet from office. The court’s 5-4 decision found Srettha guilty of serious ethical violations, leading to the cessation of all cabinet activities and the need for a new government.
Caretaker Deputy Minister of Finance Julapun Amornvivat acknowledged that the ruling has disrupted ongoing government projects, including the 10,000-baht Digital Wallet initiative, which had not yet received final approval. While the project is currently stalled, Julapun emphasized that it has not been canceled. The future of the Digital Wallet and other pending policies will depend on the decisions made by the new government, expected to be formed within the next 1-2 weeks.
Julapun noted that the political uncertainty has impacted public confidence and slowed economic activity, as people become more cautious with their spending due to the lack of clarity about the government’s direction. However, he expressed optimism that once a new Prime Minister and cabinet are in place, efforts will be made to restore economic momentum and implement key projects like the Digital Wallet.
He addressed concerns that the project might be permanently shelved, asserting that the current government has no intention of abandoning it, though its continuation will ultimately depend on the incoming administration’s policy priorities. Julapun also emphasized the importance of political stability in addressing economic issues and restoring public confidence, urging all political parties to work together for a smooth transition and a swift return to normalcy. (NNT)
