Cabinet Gives Green Light for Increase in Digital Wallet Stimulus Budget

[snoop1130]

 

The Cabinet has given the green light for an increase to the 2024 fiscal year budget, in order to support a new stimulus program. Though the exact amount of the increase is still undecided, an initial proposal suggests an additional 122 billion baht (about US$3.36 billion).

 

The rise in funding is intended to support the government's "digital wallet" scheme, which plans to give 10,000 baht to each of 50 million citizens so as to boost spending in local economies.

 

By 2025, the deficit in the budget is expected to widen by 152.7 billion baht, pushing the total budget to 3.752 trillion baht to back this initiative. Some economists are against this plan, but the government insists that it is crucial for revitalizing an economy in crisis. The central bank has also suggested that the program should mainly help vulnerable groups.

 

Earlier, the government had mentioned that the money needed for this stimulus would come from the budgets for 2024 and 2025, paired with contributions from the Bank for Agriculture and Agricultural Cooperatives.

 

File photo for reference only. Courtesy of Google

 

-- 2024-05-21

 

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[Pouatchee]

whatever it takes to bring the loonie back up to 30bht to the $

its been fluctuating quite a bit in the last few days and not favorably for canucks.

 

hopefully this will bring the canadian $ back

[OneMoreFarang]

It's time that they publish all the little details so that they can be scrutinized by independent organizations.

We are used to the fact that with all Shinawatra scams the middlemen make most of the money. It would be a surprise if it would be different this time. 

[Stocky]

2 hours ago, snoop1130 said:

The central bank has also suggested that the program should mainly help vulnerable groups.

The group least likely to afford or have access to any smart device suitable for a digital wallet. Though no doubt there will be 'helpful' individuals that will assist and take a  percentage.

 

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Edited May 21 by Stocky

[kickstart]

They are saying that the money will be paired with contributions from the BAAC.

That is the farmers bank, that loans money to farmers, for buying seed, fertilizers etc. buying land building, houses, the wife gets her pension from them.

I read a report a few years ago that loans from the bank, on compound interest will take for the next 50 years to pay back, we know more than one farmer who has over 1-million-baht loans from them.

It is government owned, as I see it the government are robbing Peter to pay Paul, it is all coming out of the same pot, they were talk about the Government Saving bank getting involved, same difference, all government money.

Looking at my crystal ball, I do not think it will happen, someone will listen to one of the economists and they will find the pot is not bottom less, almost empty.