Thailand’s ambitious plan to distribute digital currency to its citizens, valued at approximately $15 billion, has encountered a setback. Deputy Minister of Finance Julapun Amornvivat recently announced a delay in the launch of the program, citing the need for additional time to develop a secure system.
Objective of the Initiative and Revised Launch Date
The primary objective of this initiative was to revitalize Thailand’s economy by providing 10,000 baht (about $280) to each citizen over the age of 16. However, the Thai government has decided to postpone the launch to the first quarter of 2024. The delay is necessary to ensure the protection of funds and user data through the development of a secure system.
Different Perspectives on the Distribution Plan
Opinions differ regarding the best approach to implement the distribution plan. Some experts suggest targeting the funds to those in genuine need by issuing “e-wallets” to specific groups. They also argue for the refinement of the program to exclude financially self-sufficient individuals.
On the other hand, former Thai senator Rosana Rositrakul has expressed concerns about the potential adverse effects of the digital currency distribution on the economy. She has called for a thorough review by Thailand’s National Audit Office.
This delay in the program’s launch highlights the ongoing debate within Thailand regarding the allocation of funds and the potential risks associated with such a large-scale initiative. The country currently grapples with public debt and economic challenges, making it crucial to carefully evaluate the impact of any major expenditure.
“The initiative aimed to boost consumer spending and stimulate the economy, with an ambitious target of achieving 5% economic growth in the coming year,” said Thailand’s Prime Minister, Srettha Thavisin.
“The government should refine the program to exclude those who are financially self-sufficient,” suggests an expert.
– Expert
“The potential risks associated with the digital currency distribution plan need to be thoroughly reviewed,” said former Thai senator Rosana Rositrakul.
– Rosana Rositrakul
