The Ministry of Finance has revealed it is on standby for a decision from the Council of State about the legality of a 10,000-baht digital wallet handout. The response, expected early in 2024, will determine the launch of the scheme slated for May.
A consultation with the Council of State was initiated regarding a 500 billion baht borrowing bill to support the scheme. The council’s decision will reveal if the plan complies with the 2018 State Fiscal and Financial Discipline Act, which allows for government borrowing in urgent situations.
Deputy Finance Minister Julapun Amornvivat clarified that the bill’s approval hinges on whether the economic circumstances qualify as a crisis. This assessment will consider factors such as the recent 1.5% GDP growth.
The campaign is part of a broader strategy to achieve a 5% annual GDP growth, aligning with the government’s economic goals. Eligibility for the handout is set for Thai citizens aged 15 and above who earn below 70,000 baht monthly and have less than 500,000 baht in bank deposits. (NNT)
