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2024: Diluted digital wallet scheme finally takes off

2024: Diluted digital wallet scheme finally takes off

21 Sept 02:48 Key points summarised by AI
  • Thailand's much-debated digital wallet scheme launched in 2024, significantly diluted from its original promise, providing cash handouts to 14.4 million low-income and disabled individuals.
  • The initial ambitious plan to give 10,000 baht to 50 million citizens faced substantial financial and legal obstacles, leading to multiple revisions, delays, and a shift from digital tokens to direct cash.
  • Critics, including economists and the World Bank, slammed the scheme as populist, warning of increased public debt and urging investment in productive projects over blanket handouts.
  • Despite controversies and leadership changes, the government disbursed 144.5 billion baht, primarily spent on essential goods, with Prime Minister Paetongtarn Shinawatra promising future phases.
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