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Thailand’s proposed digital wallet initiative, which aims to distribute 10,000 baht (~$274) to residents aged 16 and older, has encountered delays as critics urge an investigation by the nation’s electoral commission.
As initially reported by the Bangkok Post, Thailand’s deputy finance minister Julapun Amornvivat revealed that the anticipated launch of the new digital wallet in February 2024 has been postponed to allow additional time for system development.
The Thai government intends to utilize the wallet to provide 10,000 baht to qualifying citizens in an effort to invigorate the local economy.
Amornvivat’s statement emphasized the government’s desire for more time to guarantee the security of the infrastructure supporting the digital grant wallet, while confirming that its launch will still occur in the first quarter of 2024.
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Reports indicate that the sub-committee overseeing the program is still evaluating the funding sources for the initiative. The Pheu Thai Party’s digital wallet project is projected to cost 548 billion baht ($15 billion).
The government had previously estimated that the initiative would boost economic growth by 5% in the coming year, with Amornvivat also indicating that tax revenues from heightened economic activity could help cover part of the program’s expenses.
Former Thai senator Rosana Tositrakul has expressed strong skepticism regarding the project and has requested the election commission to investigate the legality of the proposed initiative.
As the Thai government considers utilizing its national budget to finance the digital distribution, concerns regarding insufficient funding and the possibility of incurring debt to support the initiative have prompted Tositrakul to question the legality of the scheme.
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