2023’s top stories: Digital wallet scheme dominates government’s policy debate this year

13 Sept 22:26 Key points summarised by AI

Pheu Thai Party's controversial 560 billion baht digital wallet scheme, promising 10,000 baht to eligible citizens, became the central economic policy to boost Thailand's economy.
Following a shift in government formation, the scheme was revived by the new Pheu Thai-led administration, which revised eligibility criteria and proposed borrowing 500 billion baht for its implementation.
The plan ignited fierce opposition from academics and economists concerned about rising public debt and fiscal discipline, leading to potential parliamentary and Constitutional Court challenges over the legality of the borrowing.
Economists question the scheme's efficacy, projecting only a modest 0.3-0.5% GDP boost relative to its substantial cost, which could significantly increase the public debt-to-GDP ratio.

Cabinet approves ฿10.5bn central fund for flood relief

Yesterday 14:04 Key points summarised by AI

The Cabinet allocated 10.5 billion baht from the fiscal 2027 central emergency fund to provide financial relief for flood victims.
This funding will cover remaining compensation payments and relief operations for severely affected households, as fiscal 2026 funds have been exhausted.