Some consumers may obtain cash, details coming in fresh president’s policy statement
PUBLISHED: 4 Sep 2024 at 19: 13
Deputy Finance Minister Julapun Amornvivat has conceded that the president’s 10, 000-baht handout program needs some modification, including giving money instead of online money to some recipients.
Many requests lodged against the president’s premier policy were partly to blame for the need for specific shifts, he said on Wednesday.
According to him, another adjustments are being made in response to the numerous positive feedback offered to improve the program.
Up until 50 million eligible Thai adults over the age of 16 were given 10, 000 baht in electronic money under the initial policy. Some economists said the 500-billion-baht program do not provide the economic raise envisioned by the Pheu Thai-led authorities.
However, according to Mr. Julapun, the new Paetongtarn Shinawatra leadership then needs to make changes to prevent running into some of the issues that were previously mentioned by express organizations, economists, and the opposition.
” I have to admit that some changes are needed, including handing out cash]to vulnerable groups ]”, he said. We still need to talk with all the other coalition events about what the final information will look like.
It appears likely that money may be distributed this quarter to about 15 million position security customers for the time being. Some of the intended consumers do not have phones or are unfamiliar with digital systems, so it would take the form of income.
The government will consider whether and how to maintain the handouts to 35 million people when the new macroeconomic season kicks off on October 1.
The digital wallet did undoubtedly persist, according to Mr. Julapun, who has already enrolled through the government’s Thang Rath application.
In addition to putting money into the financial structure, he said, another crucial goal of the program is to create a new digital economy facilities for Thailand.
Information may be revealed when the new government’s plan speech is presented in congress later this month, Mr. Julapun said, avoiding giving specifics about what other potential adjustments were being taken into account.
All he could state was that the remaining 122 billion baht from the governmental 2024 and more from the 2025 funds, which are currently being scrutinized in the Lower House, would be used solely for economic stimulus purposes.
The anticipated influence of the stimulus has been subject to a lot of debate, with some critics claiming that despite its high cost, it will only have a minimal impact. Mr. Julapun predicted to see both positive and negative effects of any revision.
He said,” Here in Thailand, we have so many petitioners whose petitions have become obstacles to the government’s efforts to boost the economy and the well-being of the people.”
” These requests have likewise shattered the trust of the country’s consumers and investors,” the statement reads.