The Thai government’s 500-billion-baht digital wallet scheme faces delays and criticism, with concerns about funding, legality, and fiscal responsibility. The Council of State advises against borrowing for the scheme.
Uncertain Timeline for Digital Wallet Rollout
The Thai government’s 500-billion-baht digital wallet scheme is facing another delay with no new timeline provided, adding uncertainty about its implementation. The aim of boosting economic growth through the scheme is clouded by concerns about its funding and fiscal responsibility. The delayed rollout has raised doubts about its legality and effectiveness, drawing criticism and warnings from experts and the National Anti-Corruption Commission.
Disagreements with Bank of Thailand
The digital wallet scheme, which aims to provide 10,000 baht to 50 million citizens via a mobile app, has been postponed from its original February launch to a date after May. The delay comes amidst concerns over funding and disagreements between the government and the Bank of Thailand on economic revival strategies. Despite the setbacks, the government remains committed to the program as a key part of its stimulus measures.
NACC and Council of State Concerns
The scheme has faced scrutiny from the National Anti-Corruption Commission, which is yet to reach a final decision on its legality. Additionally, the Council of State has advised against the government’s plan to borrow 500 billion baht for the scheme, stating potential violations of fiscal laws. Critics have warned that the loan bill could violate fiscal discipline laws and the Constitution, while the Council suggested using an executive decree for urgent economic situations.
Source : Thailand’s 500-billion-baht digital wallet scheme in limbo
