After ‘Seththa’ was removed from the position of Prime Minister, local people were worried that the 10,000 baht digital wallet project would be affected, while most economists hoped that the new government would review the project.

The 10,000 baht top-up project via digital wallet is a large government project, spending up to 450 billion baht, targeting 45 million people. Almost 30 million people have registered via the government app, with registration open until September 15, 2024. When Prime Minister Settha was removed from office, locals were worried that the new cabinet might cancel the project and leave along with Mr. Settha, amidst rumors that the meeting at Ban Chan Song La yesterday (August 14) might end the digital wallet project first.

In terms of business, most economists hope that the new government will review the digital wallet project or adjust the conditions. If it does not go ahead, it would be good to use this budget to stimulate the economy in the short term in other ways, especially in
Q4/67.

There is also a proposal that the new cabinet should adjust the criteria for spending the new digital budget to be more flexible, similar to the Half-Half project, and adjust some of the money to help Thai entrepreneurs whose status is currently uncertain. This is considered a targeted assistance, truly stimulating the economy and reducing the government’s debt burden, because public debt is as high as 64%, close to the ceiling of 70% of GDP.

Source: Thai News Agency