Thailand throws ‘baht’ at impact study of 10,000-baht handouts

[snoop1130]

Picture courtesy of Bangkok Post

 

By Bob Scott

 

In a bid to decipher the ripple effects of Thailand’s 10,000-baht cash handout scheme, the Finance Ministry launched an exhaustive survey. This deep dive, spanning 40,000 participants, aims to unravel the true impact of this financial initiative on the economy and society as a whole.

 

Finance Permanent Secretary Lavaron Sangsnit promises findings by the month’s end.

 

“This survey uses a large sample size to ensure the results reflect the true impact of the programme, helping to determine whether it is a worthwhile initiative.”

 

Lavaron added the groundbreaking nature of this analysis that seeks to go beyond the usual conjecture.

 

Suan Dusit University has been roped in to independently scrutinise the spending habits of recipients, while the University of the Thai Chamber of Commerce assesses the scheme’s impact on entrepreneurs.

 

 

To bolster the survey’s accuracy, the ministry, alongside the National Economic and Social Development Council, plans to merge findings with data from the concurrent population census by the National Statistical Office.

 

Digital wallet drop

 

Originally, the handout targeted anyone over 16 through a one-time digital wallet drop. However, criticism around its economic sense and legal framework, particularly from the sceptical Bank of Thailand, led to a reevaluation. The central bank had argued for a more honed approach, directing funds to those really in the lurch.

 

In response, the government tightened the criteria: only those with a monthly income under 70,000 baht or savings below 500,000 baht qualify. The phased rollout kicked off with state welfare cardholders registering through the Tang Rat app, covering a whopping 14.4 million people.

 

With a budget of around 144 billion baht, cash distribution started in September. By November’s end, 1.44 million individuals had pocketed their baht boost. However, a stumbling block remains—75,400 eligible recipients still haven’t completed vital steps, like linking their PromptPay accounts.

 

These dawdlers have until December 19 to wrap up the process or forfeit this financial lifeline, according to ministry stipulations.

 

As the dust settles on this study, the pressing question remains: is the government’s 10,000-baht splash truly a flash of brilliance, or just cash going down the drain? With findings soon to come, the Finance Ministry hopes to illuminate the handout’s success—or failure—and guide future financial strategies with clearer foresight.

 

Source: The Thaiger

-- 2024-12-09

 

 

[BarBoy]

11 minutes ago, snoop1130 said:

As the dust settles on this study, the pressing question remains: is the government’s 10,000-baht splash truly a flash of brilliance, or just cash going down the drain?

A flash of brilliance? Are you having a laugh?

 

They are dumber than a sack of rocks the lot of them and will lead this country, and its people, into (even more) financial hardship than they are currently in.

 

Populist daydream by the man with the fake neck brace. Nothing more, nothing less!

[Pouatchee]

1 hour ago, snoop1130 said:

“This survey uses a large sample size to ensure the results reflect the true impact of the programme, helping to determine whether it is a worthwhile initiative.”

 

40 000?   As usual it will likely be more like 1438 participants...

[dinsdale]

Well I guess it depends on the study if it's going to reflect reality or reflect a predetermined outcome.

[NoDisplayName]

1 hour ago, snoop1130 said:

In response, the government tightened the criteria: only those with a monthly income under 70,000 baht or savings below 500,000 baht qualify

 

Amazingly, the survey indicated almost all spending went towards healthy foods and children's school clothing.

 

Less than 0.003% was wasted on gambling, alcohol, yaba, more alcohol, prostitutes (which do not exist, of course!), and weed ..... combined!

 

Hub of success!

[ikke1959]

It seems a lot of money, but it is nothing.... 10k in a month extra with all rising prices, coming holidays, and more to pay for. In fact the people get 30 THB a day in a year more.... Of course they want to buy lottery ticket, in the hope to win more..And it is an handout that can only be spend at certain articles, in a certain area.... and the costs will throw back the Thai economy much more than they will ever expected... Even now with the too strong THB, Thailand will become more expensive which cost tourist, and new contracts in the business sector... Several have left already and there will be more going

[BangkokReady]

Shouldn't they just look at the overall affect it has had on the economy?  Either it has boosted the economy, or it hasn't.

[connda]

It was a scheme to get votes for the party who promised the plods that, if they voted their party into power, they would in turn reward the voting public by opening the treasury up and showing the commoners with public money.

Of course it was a lie.  They are wringing their hands and plotting on how to renege without causing a social uproar, and my guess, create the conditions for another coup.

It's called - "Vote Buying."  Although not technically illegal in this case, it should be.