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The Thai government plans to implement a cash handout program totaling US$14 billion before the end of the year to stimulate economic growth.
Deputy Finance Minister Julapun Amornvivat said that the Prime Minister will chair a meeting of the Digital Wallet Committee on April 10 to discuss details such as funding sources, and the cabinet is expected to approve the plan at the end of April. Each adult Thai will receive 10,000 baht.
Experts recommend funding it through one-time borrowing rather than relying on the state budget. Cash relief is a core promise of the ruling party but has been met with concern by the central bank and opposition parties.
Thailand’s economic performance is weak, and the Prime Minister called on the Bank of Thailand to cut interest rates, but the Bank of Thailand refused.
(Source: Bloomberg Image source: freepik)
