October 19th,The Deputy Minister of Finance of Thailand stated that Thailand will postpone the launchThe $15 billion digital wallet distribution plan will still be launched in the first quarter of next year to revive the economy.

The Thai government originally planned toBefore February 1, 2024,towardsCitizens aged 16 and above are distributed digital currency worth 10000 baht per person, known as the "Digital Currency Wallet Program".

this10000 Thai baht functional tokens cannot be exchanged for cash or used to settle debts. They must be used by businesses within a radius of 4 kilometers of their place of residence within 6 months, with the aim of promoting economic development.

Digital wallet distributionIt is the campaign promise of the largest ruling party, the Thai Party. However, due to the need for more time to develop security systems, it may not be possible to execute as originally planned.

The plan has been heavily criticized by economists,Including two former governors of the Bank of Thailand,They believe thatThailand's public debt has reached a critical point, and the digital wallet plan poses too much risk to the economy.

Assistant Governor of the Bank of Thailand, DalaniexpressThe main purpose of issuing cash this time is to stimulate consumption, but the central bank believes it is not necessary to do so because private sector consumption has been expanding in the first half of this year, and the labor market is also steadily recovering.

The opposition Thai People's Party has complained to the General Audit Office that the digital wallet plan will cause serious damage to the Thai economy, and has requested the General Audit Office to conduct an investigation.And representsquery,Why does the government not provide subsidies in the form of cash, but instead use digital coins that are complex for the general public and will not benefit small retail stores.

Not only do Thai economists、officialAnd scholars are interested inDigital Currency Wallet ProgramPolicies are controversial, and global credit rating agencies also hold similar views. According to Bloomberg,Prime Minister of ThailandSeta has set the annual average growth rate of GDP as5% target, lasting for 4 years.

However, in the early days of the governmentofactionbutIt's drivingDigital Currency Wallet ProgramThis policy requires up toA budget of 560 billion baht. In addition, the government also needs to continue repaying debts while distributing digital currency, which may exacerbate fiscal deficits and pose a risk to the stability of the country's economic growth rate.

Bloomberg pointed out that government policies focus on massive spending to stimulate market demand and investment, and this actionmeetingThis has raised concerns among foreign investors as they hold a large amount of bonds based on short-term aid. In addition, this alsotakeCausing tension between the Prime Minister and the Governor of the National Bank, as the latter hopes to achieve expenditures that are more in line with government goals.