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Monday, February 26, 2024

Thai Prime Minister Discusses 10,000 Baht Digital Stipend Distribution

In a recent discussion, Prime Minister and Finance Minister Srettha Thavisin shed light on the government’s initiative to disburse a 10,000 baht stipend via digital wallets, emphasizing the ongoing progress of this measure. He affirmed that a dedicated committee is presently in the process of formation to provide a comprehensive explanation of the policy. All facets of this financial initiative, as mentioned by the premier, fall well within the legal framework. The public is urged to await the committee’s forthcoming announcement, which will elucidate the finer points of the plan.

Amidst public speculation regarding the feasibility of implementing the Pheu Thai Party’s 10,000-baht digital money distribution policy, as well as other pivotal pledges made in the lead-up to the May 14 election, Prime Minister Thavisin maintained that the government is committed to realizing these promises within the specified legal bounds. The proposed digital currency distribution, estimated to incur a cost of up to 560 billion baht, will be sourced from an undisclosed government division, as clarified by the Budget Bureau.

Though the notion of injecting digital funds into the economy holds potential for swift economic stimulation, it is anticipated to undergo rigorous scrutiny within the ambit of the 2018 legislation on financial and fiscal discipline, as underscored by Assoc Prof Thitiwut Boonyawongwiwat from the Faculty of Political Science and Public Administration at Chiang Mai University. Deputy Finance Minister Julapun Amornvivat echoed this sentiment, elucidating that this policy is a fundamental component of a broader economic revitalization strategy and will involve the collaboration of a committee encompassing stakeholders from diverse sectors.

While the official constitution of the committee is pending, concurrent efforts are underway, including the development of payment platforms to facilitate the digital wallet policy. The intended launch date for this initiative is earmarked for February 1 of the upcoming year, or alternatively, within the first quarter, contingent upon any potential logistical delays.

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