Former finance minister doubts anticipated impact of “digital wallet”

2 Oct 14:10 Key points summarised by AI

Former Thai Finance Minister Thirachai Puvanatnaranubala questions the government's claim that the digital wallet scheme will achieve 5% GDP growth or enhance long-term economic competitiveness.
Deputy Finance Minister Julapun Amornvivat, however, insists the scheme will inject 2 trillion baht into circulation and boost GDP by 5%.
Thirachai advocates for government investment in supply-side solutions, such as workforce skill upgrades and education improvements, over demand-side spending stimulation.
He argues that while handouts were justifiable during the COVID-19 pandemic, the current economic situation does not warrant such a stimulus, which he believes will not yield concrete returns.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.