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Monday, February 26, 2024

Pheu Thai Party MP Clarifies Government’s Financial Initiatives

In a recent statement, a Member of Parliament (MP) hailing from the Pheu Thai Party has shed light on the distinction between the government’s program to provide a 10,000-baht stipend through digital wallets and the separate initiative to create a cash circulation system via blockchain technology.

MP Worawat Ear-apinyakul, representing the constituency of Prae, expounded upon this issue, emphasizing the need for the public to consider the broader ramifications of government programs. Drawing parallels to existing initiatives such as universal healthcare, the Village Fund, and OTOP (One Tambon One Product), the MP argued that the government’s objective is not merely to distribute free funds. Rather, it seeks to incentivize investments, thereby invigorating the economy within a controlled financial ecosystem. The ultimate outcome, he contended, will be increased tax revenue for the government.

Regarding government funding, Worawat pointed out the existence of an annual surplus of 4.8 trillion baht beyond the government’s regular budget. The critical question, he posited, revolves around how and when the government will choose to inject this wealth into the financial system for the benefit of the public.

Worawat expressed unwavering confidence in the economic team of the Pheu Thai Party, believing that they possess the acumen to discern the opportune moments to enact policies like the issuance of 50 million rai of land titles. Such a move, he stated, could potentially add an extra 5 trillion baht in financial security. Coupled with projects aimed at augmenting citizens’ income through job creation and elevating OTOP workgroups to industrial levels, the MP remained sanguine that prosperity would reach the public within a four-year timeframe.

In conclusion, the MP underscored the government’s paramount focus on tourism as a pivotal driver to bolster the economy. He expressed optimism that the government is well-equipped to adeptly address the nation’s economic challenges.

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