NESDC casts doubts over domestic consumption rise from digital wallet scheme

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National Social and Economic Council (NESDC) is unsure that the digital wallet scheme will boost domestic consumption to the level desired by the government, as the current consumption rate remains high.

 

According to the NESDC’s second quarter report this year, private sector consumption has increased by up to 7.8% for the first half of this year, fuelling doubts as to by how much more consumption would increase as a result of spending through the digital wallet, although the scheme will help boost the economy and GDP to a certain extent.

 

According to the report, the total value of exports has dropped over three consecutive quarters by 5.5%, but are expected to pick up slightly in the 3rd and 4th quarters.

 

Caption: Prime Minister Srettha Thavisin attends the Thai Rath Forum 2023, on September 18.

 

Full story: Thai PBS 2023-09-18

 

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Funding sources for “digital wallet” scheme will be known in 10 days : Deputy finance minister

 

 

The Finance Ministry is expected to have answers within ten days to clear public doubt about the source of funding for the government’s digital wallet scheme and the actual amount of money needed, Deputy Finance Minister Julapun Amornvivat said today (Monday).

 

After a special cabinet meeting today, he said that he has scheduled a meeting of relevant agencies for a discussion about the setting up of an ad hoc panel to consider two urgent issues, namely debt moratoria for farmers and the digital wallet scheme.

 

Regarding the controversial digital wallet scheme, Julapun said that the Finance Ministry has agreed to accept feedback from all stakeholders about the scheme, including the idea of expanding the area in which recipients of the 10,000 baht under the scheme can spend the money, to cover more than 4km from their residences.

 

Full story: Thai PBS 2023-09-18

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

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