By Thai Newsroom Reporters
THE TOTAL FUNDING FOR the Pheu Thai-initiated digital wallet project may be cut by 10% to better cope with the government’s budget constraints, said Deputy Finance Minister Julapun Amornvivat today (July 10).
The total amount of funding for the populist handout campaign may be slashed from 500 billion baht as earlier calculated to 450 billion baht, accounting for a 10% cut, to suit the budget constraints for the current fiscal year and next, according to the Pheu Thai-attached deputy finance minister.
Nevertheless, Julapun said, each eligible Thai national will be entitled to a maximum of 10,000 baht in market value of merchandise to purchase via their digital wallet.
The deputy finance minister concluded that not as many as 50 million Thais aged 16 years and over nationwide are anticipated to join in the delayed digital wallet project and that about 80% or 90% of those people will do so, thus leaving a minimum of 10% of the total government funding untapped.
Of the 450 billion baht total, 165 billion baht will come from the government budget for the current fiscal year and 285 billion baht from the next fiscal year.
Julapun reassured that the 10,000-baht digital wallet project will no longer be delayed beyond the fourth quarter of this year.
The digital wallet project, provided for all recipients to buy merchandise in the boundaries of their home district, cannot be used for purchases of luxury goods, cellphones, electronic goods, electric appliances, cigarettes and alcoholic beverages or services at beauty salons, spa and massage parlours and car wash.
Ineligible for the populist handout campaign are those who may have a minimum of 500,000 baht in bank deposit or those who may earn a minimum of 70,000 baht in monthly pay.
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Top: A digital wallet image by Rodion Kutsaiev on Unsplash
Front Page: Digital wallet scheme. Photo: Thai Rath
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