Thai PM pledges to implement “digital wallet” policy

October 09, 2023 | 16:00

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Thai Prime Minister Srettha Thavisin has confirmed that the country’s government will proceed with its plan to provide a 10,000 THB (280 USD) digital wallet to every Thai citizen aged 16 and older.

Thai PM pledges to implement “digital wallet” policy | World | Vietnam+ (VietnamPlus)

Srettha Thavisin of the Pheu Thai Party announced the party’s 10,000-baht digital wallet policy at a campaign rally in April, 2023. (Photo source:bangkokpost.com)

Bangkok – Thai Prime Minister Srettha Thavisin has confirmed that the country’s government will proceed with its plan to provide a 10,000 THB (280 USD) digital wallet to every Thai citizen aged 16 and older.

In a recent meeting with residents in Yasothon's Kham Khuen Kaeo district, where he observed efforts to deal with flooding, the Prime Minister said the plan is important to people and the government will go ahead.

Accordingly, the government is committed to implementing the digital wallet initiative for an estimated 56 million people, with a projected launch date of February 1, 2024. About 16 billion USD will be injected to the country’s economy.

The plan is expected to run until 2024. If there are positive results, the plan will be expanded until 2025, injecting up to 57 billion USD into the country's economy, equivalent to 5 per cent of Thailand's gross domestic product (GDP).

However, some economic experts warned that the government's plan will consume a large amount of the state budget.

According to former Finance Minister Thirachai Phuvanatnaranubala, foreign investors believe the government will eventually have to seek loans to finance the plan which will adversely affect the country's financial situation and increase public debt.

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By VNA

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