Smartcard spending won’t help much to stimulate economic growth

 

 

Spending by smartcard holders won’t help much to stimulate economic growth, but it does have  psychological impact on low-income earners, a central bank’s economist said

 

Assistant governor of the Monetary Policy Group with the Bank of Thailand, Mr Jaturong Jantarangs  revealed that the government’s welfare card scheme has helped to increase consumer spending to a certain degree but its impact on the national economy is a negligible 0.1% of GDP.

 

However, he admitted that it has a profound psychological impact on low-income earners.

 

Full story: http://englishnews.thaipbs.or.th/smartcard-spending-wont-help-much-stimulate-economic-growth/

 

 

-- © Copyright Thai PBS 2017-10-07

19 hours ago, rooster59 said:

it has a profound psychological impact on low-income earners.

 

That impact maybe the realization of how really poor card holders are and lead to more psychological  depression.