BANGKOK (NNT) - Prime Minister Srettha Thavisin convened an urgent session of the Monetary Policy Committee on Monday (Apr 1) to deliberate on funding for the digital wallet initiative, shifting the venue from the Finance Ministry to Government House for discussions centered around expanding the fiscal 2025 budget deficit and additional borrowing.

 

The initial budget plan marked the deficit at 713 billion baht, with provisions allowing for up to 820.8 billion baht in borrowing to cover this shortfall. Expenditure proposals for 2025 tally up to 3.6 trillion baht, juxtaposed with anticipated revenue of 2.887 trillion baht, incorporating regular spending, investments, and loan repayments. Details from the meeting remain undisclosed.

 

In parallel, Deputy Finance Minister Julapun Amornvivat signaled that the specifics of sourcing the 500 billion baht required for the digital scheme would crystallize post an April 10 convening of the national digital wallet policy committee, presided over by Srettha. He noted that the session was crucial in revealing the financial plan for the government's key initiative, originally pledged by Srettha and the Pheu Thai Party as a 10,000 baht handout for all during their campaign. This plan, however, has been adjusted to focus on 50 million Thais with lower incomes.

 

The Bank of Thailand has advised a more targeted approach, advocating for the distribution of funds solely to vulnerable groups, arguing it would yield greater economic benefits. With consumption levels in several income brackets rebounding to pre-pandemic figures, the central bank noted that extending handouts to those already at sufficient income levels would not significantly stimulate the economy, contrasting with the proposed broad disbursement strategy.

 

By Krajangwit Johjit

 

Source: NNT 2024-04-02

 

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18 minutes ago, snoop1130 said:

funding for the digital wallet initiative

That's easy: Just confiscate all the money from those unusually rich politicians, police, administration, etc. It should be easy to find more than enough money. 

Maybe reinstate visa fees for Chinese and Indians. That goes into billions. 

More thought bubble idiocy and populist nonsense.

"Let's do this."
"Good idea. How will we pay for it"
"Dunno."

"Excellent idea."

"Thank you. More whisky anyone?"

Loud applause!

Morons

Edited April 2, 20242 yr by dinsdale

4 hours ago, OneMoreFarang said:

That's easy: Just confiscate all the money from those unusually rich politicians, police, administration, etc. It should be easy to find more than enough money. 

Money than enough for decent educution facilities, more teachers, better equipment and more nurses for hospitals, employment programs etc, etc. I mean there must be billions of corrupt money. 

14 hours ago, snoop1130 said:

Prime Minister Srettha Thavisin convened an urgent session of the Monetary Policy Committee on Monday (Apr 1) to deliberate on funding for the digital wallet initiative, shifting the venue from the Finance Ministry to Government House for discussions centered around expanding the fiscal 2025 budget deficit and additional borrowing.

Such a shame they didn't think about this before offering the nationwide vote bribe.

9 hours ago, dinsdale said:

Money than enough for decent educution facilities, more teachers, better equipment and more nurses for hospitals, employment programs etc, etc. I mean there must be billions of corrupt money. 

In the hands of certain entities.

2 hours ago, hotchilli said:

In the hands of certain entities.

Why don't they borrow it from the 'Lord' Mr. Thaksin Shinawatra!!!!😏😏😏😏

Here's an idea Mr. PM - How about raising tax on recreational cannabis even further. I think taxation on tobaccois between 25 - 42% depending on the packet size - There your 500 billion baht black hole is fixed and a huge chuck will come from tourists and provide a limited burden to Thai tax-payers....and it will continue to give taxation money long after the 500 billion is repayed. 

 

Suggested taxation threseholds.

 

1 - 5g = 25% taxation

5g plus  = 42% taxation 

 

Now go forth and deliver on your election promise. 

 

Unfortunately this will be their undoing people here in issan are looking forward to it and if it doesn't happen they won't be happy  what about the huge money reserved for situations like this or was that another made up story and if not how about spending money on hospitals and schools but we need a new submarine and jets

22 hours ago, OneMoreFarang said:

That's easy: Just confiscate all the money from those unusually rich politicians, police, administration, etc. It should be easy to find more than enough money. 

What about the cum-convict's frozen assets? His PT party's election pledge should be self-funded.

8 hours ago, hotchilli said:

Such a shame they didn't think about this before offering the nationwide vote bribe.

 

It's an old well known tactic from Thaksin. He promises handouts to the mostly poor population in order to get their votes and him into power. He of course never pays with his own money. Then they have to go and find "creative" ways to find the funds. And the population falls for it every time because they are desperate and need the money plus are not well informed. In the end they get screwed over and over.

 

Edited April 3, 20242 yr by eisfeld

Inflation incoming. 

 

An absurd policy. 

Who is going to tell the PM that this idiotic idea is dead, and no "Weekend at Bernies" like effort will see it enacted.

 

 

On 4/2/2024 at 4:35 PM, snoop1130 said:

 

BANGKOK (NNT) - Prime Minister Srettha Thavisin convened an urgent session of the Monetary Policy Committee on Monday (Apr 1) to deliberate on funding for the digital wallet initiative, shifting the venue from the Finance Ministry to Government House for discussions centered around expanding the fiscal 2025 budget deficit and additional borrowing.

 

The initial budget plan marked the deficit at 713 billion baht, with provisions allowing for up to 820.8 billion baht in borrowing to cover this shortfall. Expenditure proposals for 2025 tally up to 3.6 trillion baht, juxtaposed with anticipated revenue of 2.887 trillion baht, incorporating regular spending, investments, and loan repayments. Details from the meeting remain undisclosed.

 

In parallel, Deputy Finance Minister Julapun Amornvivat signaled that the specifics of sourcing the 500 billion baht required for the digital scheme would crystallize post an April 10 convening of the national digital wallet policy committee, presided over by Srettha. He noted that the session was crucial in revealing the financial plan for the government's key initiative, originally pledged by Srettha and the Pheu Thai Party as a 10,000 baht handout for all during their campaign. This plan, however, has been adjusted to focus on 50 million Thais with lower incomes.

 

The Bank of Thailand has advised a more targeted approach, advocating for the distribution of funds solely to vulnerable groups, arguing it would yield greater economic benefits. With consumption levels in several income brackets rebounding to pre-pandemic figures, the central bank noted that extending handouts to those already at sufficient income levels would not significantly stimulate the economy, contrasting with the proposed broad disbursement strategy.

 

By Krajangwit Johjit

 

Source: NNT 2024-04-02

 

- Discover how Cigna Insurance can protect you with a range of visa-compliant plans that meet the minimum requirement of medical treatment. For more information on expat health insurance click here.

 

Get our Daily Newsletter - Click HERE to subscribe
 

stop this nonsense, just forget about this idiotic plan! 

the country is in debt already, why make that debt higher?

who's going to have to pay for it eventually?

better forget it!

Giving this money to poor people is not going to boost the economy .It just means that they will spend the same as before but will not have to beg/borrow scrape the money together for a small while.