The Cabinet has approved in principle a plan to develop people’s financial skills as part of the government’s year for addressing household debt.
Government Spokesperson Thanakorn Wangboonkongchana said the 2022-2027 plan consists of eight measures and 19 strategies. The aim was to encourage members of the public to recognize the importance of monetary management and accessing financial information.
Under the new plan, Thais of all ages will be expected to know how to properly manage their assets, refrain from creating unnecessary debt, and maximize their savings. Additionally, the plan will educate people on digital assets and how to benefit from them while managing associated risks.
In a related development, Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow said the government was confident that the depreciation of cryptocurrencies would have no impact on the Thai economy. He specifically cited their low investment volume relative to the stock market.
Bitcoin, the biggest cryptocurrency, was valued at about US$21,900 dollars as of Wednesday morning, a far cry from its all-time-high of around $68,000 in November 2021.
Minister Supattanapong reiterated that the administration has continuously warned investors about the fluctuations and risks associated with crypto. He also urged people to exercise the utmost caution when making digital asset-related investments. (NNT)
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