sinardaily.my on Nostr: Thai government's digital wallet handouts to jumpstart economy - Analysts ========== ...
Thai government's digital wallet handouts to jumpstart economy - Analysts
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The Thai government plans to roll out a digital wallet scheme in the final quarter of this year, which will spend 500 billion baht (US$13.68 billion) in cash handouts. The scheme aims to jumpstart Thailand's sluggish economy by providing 10,000 baht (around US$275) to 50 million eligible Thais via a digital wallet to spend in their neighborhood within six months. Analysts at Krungthai Bank believe that the scheme will support the recovery of vulnerable domestic sectors and enhance confidence in Thailand's economic expansion. The handout scheme could also integrate the informal economy into the formal sector, as the informal economy accounts for 48.4% of Thailand's GDP. Thai Prime Minister Srettha Thavisin expects the policy to boost the nation's growth by 1.2 to 1.6 percentage points. Thailand's economy contracted 0.6% in the final quarter of last year and grew by 1.9% in 2023.
#ThaiGovernment #DigitalWallet #CashHandouts #Economy #KrungthaiBank
https://www.sinardaily.my/article/217133/focus/money/thai-governments-digital-wallet-handouts-to-jumpstart-economy---analysts
==========
The Thai government plans to roll out a digital wallet scheme in the final quarter of this year, which will spend 500 billion baht (US$13.68 billion) in cash handouts. The scheme aims to jumpstart Thailand's sluggish economy by providing 10,000 baht (around US$275) to 50 million eligible Thais via a digital wallet to spend in their neighborhood within six months. Analysts at Krungthai Bank believe that the scheme will support the recovery of vulnerable domestic sectors and enhance confidence in Thailand's economic expansion. The handout scheme could also integrate the informal economy into the formal sector, as the informal economy accounts for 48.4% of Thailand's GDP. Thai Prime Minister Srettha Thavisin expects the policy to boost the nation's growth by 1.2 to 1.6 percentage points. Thailand's economy contracted 0.6% in the final quarter of last year and grew by 1.9% in 2023.
#ThaiGovernment #DigitalWallet #CashHandouts #Economy #KrungthaiBank
https://www.sinardaily.my/article/217133/focus/money/thai-governments-digital-wallet-handouts-to-jumpstart-economy---analysts