by Srettha says handout scheme may be delayed
Implementing handout scheme is worthwhile and there wouldn’t be any corruption, says PM
PUBLISHED : 19 Jan 2024 at 11:40
Prime Minister and Finance Minister Srettha Thavisin said on Friday his coalition government will move ahead with its flagship 500-billion-baht (US$14-billion) ‘digital wallet’ handout scheme, though it may be delayed.
Mr Srettha, who has been touting the policy as a stimulus measure necessary to revive Thailand’s sluggish economy, did not specify a launch date. Earlier this week, Deputy Finance Minister Julapun Amornvivat said it would be delayed beyond May.
The programme, originally slated for February, has been hounded by concerns over how it will be funded, with some experts calling it fiscally irresponsible.
The government has insisted the scheme, which would transfer 10,000 baht ($281) each to 50 million Thais via a mobile application to spend in their local communities, would be managed carefully through cascaded borrowing.
Mr Srettha said on Friday the government has data to prove the project is worth implementing and there would be no corruption.
He was speaking to reporters after a trip to Davos, Switzerland, where he spoke at the World Economic Forum (WEF).