Digital cash handout necessary to pull Thailand out of ‘coma’, says official
Despite widespread criticism of the 10,000-baht digital wallet giveaway promised by Pheu Thai, a top government official said it was necessary to pull the economy out of a “coma”.
Chanin Rungthanakiat, deputy to the PM’s secretary-general, said on Sunday that Thailand's economic recovery was far behind that of other countries in the region.
Chanin, who is also Pheu Thai’s deputy spokesperson, said his policy could help the country achieve the government’s target of 5% growth during the course of the current administration.
He claimed the handout could boost people’s purchasing power, which would lower their cost of living and encourage additional investment to sustain higher consumption.
The government aims to urgently improve the economy to pull the country out of a “coma”, he said.
As for concerns over the source of funding and impact of the handout, Chanin said the government has established a committee to work on the matter by listening to views from relevant authorities.
The digital wallet committee, which is tasked with directing the implementation of the handout, is led by Prime Minister Srettha Thavisin.
Earlier, as many as 99 economists and economics professors issued a statement opposing the government's digital cash handout policy and demanded its cancellation.
The experts said it was “not worth the cost”. The digital wallet scheme is expected to cost the government up to 560 billion baht, the Budget Bureau has said.
