PUBLISHED: 7 October 2023 at 4:00 p.m.
Despite criticism from experts, Prime Minister Srettha Thavisin stated yesterday that the government will continue to offer its 10, 000 ringgit digital wallet release program to all Thai people over the age of 16.
Additionally, he acknowledged Sethaput Suthiwartnarueput, the governor of the Bank of Thailand( BoT ),’ s negative remarks about the economic stimulus policy and stated that his Pheu Thai Party, which currently holds power, is open to suggestions.
The Srettha state is committed to moving forward with the 56 million dollar electronic pocket program. It is anticipated to start on February 1. The estimated expenditure is 560 billion rmb, but the source of funding has not yet been made public.
Previous BoT government Veerathai Santiprabhob stated on his Facebook page yesterday that populist laws from previous administrations had led to non-performing financial obligations and had an impact on the economy decades later.
Among the examples he gave were the first-car plan and the wheat price guarantee program.
He pointed out that Pheu Thai’s popularity in the upcoming election could also suffer if the GDP-centric policy is implemented as a transitory stopgap. This economically demanding project may cause some different government projects to fall short of their budget, he said.
The administration has been urged to visit it off by 89 finance professionals.
According to a statement from the 99 academics, researchers, and economics professors who signed it, the economy is already recovering because many analysts predict that it will grow by 2.8 % this year and 3.5 % in 2024, proving that such handouts— which could result in higher inflation and interest rates— are unnecessary.
” It is not necessary for the authorities to increase individual use.” Instead, the statement read,” It may increase the public firm’s capacity for exports and investment.”