The Senate has held a discussion on the government’s key economic stimulus program that aims to boost the economy by providing Thai nationals with preconditioned digital money. However, the program faces criticism over its high costs and potential inefficacy.
Supachai Somcharoen, Second Vice-President of the Senate, recently hosted a forum titled “Perspectives on the 10,000 Baht Digital Wallet Policy.” The policy aims to jump-start the economy by providing eligible individuals with a 10,000 baht stipend through a digital wallet. Yet, the initiative has come under scrutiny, mainly due to budgetary concerns.
Several stakeholders, including professors and academics, have called for the program’s cancellation, arguing that the benefits do not outweigh the costs. They also criticized it for focusing on short-term financial relief without considering fiscal discipline. The Senate, as a neutral political institution, invited various parties to share their opinions to formulate solutions that can be forwarded to the government.
During the forum, one notable speaker, Pichai Chunhavajira, an advisor to the Prime Minister, stated that the program is likely to undergo various changes. For instance, the number of eligible citizens may be reduced from 56 million to around 40 million to exclude the wealthy.
The budget for the initiative, approved by the Parliament, is expected to be less than 500 billion baht and will likely be delayed until September. Furthermore, Pichai said that conditions limiting the use of the stipend to a 4-kilometer radius of registered residence will likely be scrapped, opting instead for spending within the same district to ensure broader distribution. (NNT)
