Thailand’s prime minister said Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy.
The government announced in April the widely criticized ambitious plan, named the Digital Wallet, meant to give 10,000 baht (about $275) to 50 million citizens in digital money to spend at local businesses.
However, economists have criticized the program, calling it an ineffective way to contribute to sustainable economic growth compared to other measures.
Thailand has in recent years suffered from a sluggish economy that appears to have deteriorated with no clear sign of growth. This month, the World Bank’s Thailand Economic Monitor projected GDP growth of 2.4% for the year 2024.
Honestly, even with cash it is actually hard to not give money to the oligarchs in Thailand. Pretty much every single transaction involves profit to the likes of CP Group. The chicken farms, the plastic bags, the sauces, the fuel…