Thailand's Digital Wallet Scheme Faces Initial Hurdles (short)

[Video News]

 

 

Thailand's $14 Billion Handout Scheme Faces Initial Hurdles:

Thailand's $14 billion handout scheme faced early issues as millions rushed to register, crashing the system. By early afternoon, 10.5 million had applied, but many struggled with access and passcode issues. The government aims to stimulate the economy with a 10,000 baht ($282) "digital wallet" for most citizens, despite funding delays and criticism. Prime Minister Srettha Thavisin acknowledged initial problems but remains optimistic. The scheme, set to launch in two months, expects to boost economic growth by 1.2-1.8 percentage points next year, targeting regional economic activity outside cities.

[BangkokHank]

The government borrowing money to just give away to people to spend will have a net detrimental effect on the economy. But I think the government knows that. This is not about stimulating the economy. It's about roping people into a dystopian Central Bank Digital Currency system.