Bangkok: Thai Sang Thai is urging the government to clarify whether the initial phase of distributing 10,000 baht as part of a 145 billion baht handout will effectively stimulate the economy. Concerns have been raised that if the initiative is pushed forward without thorough consideration, subsequent phases could lead to long-term financial repercussions. There is also apprehension that the distribution might be politically motivated, with a large group potentially receiving the 10,000 baht in 2016 to garner support before the election. According to Thai News Agency, Mr. Worawut Towirat, Deputy Secretary-General of the Thai Sang Thai Party, addressed the issue following remarks by Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance. Mr. Pichai disclosed that the Economic Stimulus Policy Committee has approved Phase 2 of the handout, which involves an additional budget of 40 billion baht. The funds are anticipated to be distributed by the Chinese New Year festival in 2025. Mr. Worawut emph asized the need for the government to assess data from the first phase, which already provided 10,000 baht to 14.5 million individuals, amounting to over 145 billion baht. He questioned whether this has had any tangible impact on economic stimulation or created the economic surge the government claimed. He also highlighted that the handout is not being executed in the form of a digital wallet, which was intended to foster financial innovation for the future. He expressed concerns that the digital wallet initiative, regardless of the phase, serves merely as a short-term economic measure. Throughout its implementation, the policy has faced numerous delays and changes, differing from the original campaign promises. Mr. Worawut warned that Phase 3 might see substantial funds distributed in 2026, prior to the 2027 election, suggesting a greater focus on political gains than economic recovery. Mr. Worawut acknowledged that the initial phase's digital wallet provision had a positive impact on alleviating hardship for vulnerable groups, but the broader economic effects remain uncertain. He called for a thorough economic impact assessment and clear communication before proceeding with further phases. He further stated that if the government's primary motive is to secure votes for 2027, but the project fails to deliver the promised economic boost, they must be prepared to take responsibility for any ensuing public disappointment and long-term financial issues.
