News Forum - Digital wallet boost: Thai government to inject 600,000 million baht into economy

[Thaiger]

The government is set to inject 600,000 million baht into the economy through the well-documented digital wallet initiative. This programme will provide 10,000 baht to Thai citizens aged 16 and above, with an income not exceeding 70,000 baht and savings of no more than 500,000 baht. The initiative, set to run for six months, will … …

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[EdwardV]

6M Baht doesn’t seem nearly enough to stimulate real economic growth. Even so, the real question is still how will the government pay for it! If the money is coming from existing  spending, then there is a reduction multiplier in the economic effect upon the nation. 

[Fanta]

33 minutes ago, EdwardV said:

6M Baht doesn’t seem nearly enough to stimulate real economic growth

It’s 600 billion baht = 16.7 billion USD. 

35 minutes ago, EdwardV said:

Even so, the real question is still how will the government pay for it! If the money is coming from existing  spending, then there is a reduction multiplier in the economic effect upon the nation. 

Hush now, don’t start talking common sense  There are car payments to be made, loan sharks to hold at bay and whiskey that needs buying. 

[cowslip]

lots of small businesses and sole traders had to pack up during Covid - many have not returned so maybe this will stimulate that part of the economy - set up money and money to spend in small businesses.

[Samui_Mike]

I can see a valid argument for the viewpoint that all citizens should be eligible.. not just those under X salary cap or above Y savings… but.. I think before that, the government needs to be very clear what the objective is.. If it is just to simulate the economy, then to me, it can and should be all citizens.. however, if it just a subsidy-type program, then having income/asset caps seems very logical.

What does surprise me a bit is what’s apparently (only from what I’ve read online) not a permitted purchase- educational fees.. That to me, assuming you limit it to fees and required materials (ie books and uniforms) for basic and secondary education at regulated educational institutions (ie elementary/secondary/university) seems like a very good use of the funds. 

[cowslip]

36 minutes ago, Samui_Mike said:

I can see a valid argument for the viewpoint that all citizens should be eligible

any other system would require a huge amount of costly bureaucracy.