The Ministry of Finance moves forward with a 10,000 baht digital wallet, emphasizing that the source of funds is based on the budget. Ready to listen to every opinion Adjust conditions for using money Heading towards digital government
Mr. Chulaphan Amornvivat, Deputy Minister of Finance, said that the government has confirmed that it is moving forward with the project to distribute money via Digital Wallet of 10,000 baht per person for those aged 16 years and over, a target group of 56 million people, which is just one of many policies. Walking towards a digital government, emphasizing the source of funding, 560 billion baht, using the budget as the main focus. Ready to listen to opinions from all sides. Especially the former governor of the National Bank. To adjust the conditions for using money as much as possible It is a good thing that there is broad expression of opinion on the implementation of such policies. Both academics Economists, private sector, small people Emphasize that those who want to receive digital money must register to join the project. Who has a high income? or do not want to use such money No registration required It is considered an option for the people. It is necessary to restart the lives of citizens. Create new money spread across the country
The Digital Wallet Project gives away 10,000 baht as a reference money based on the current baht. It doesn't create new money. Therefore, we want to insulate and drive the economy in a big way. to spread everywhere Raise the quality of life creating opportunities Investments are made in the community. Employment occurs The government will then receive revenue back indirectly. The government must therefore keep its promises to the parliament. Move forward with tourism promotion Reducing the cost of living through the cost of electricity and diesel fuel, attracting foreign investment. When the Thai economy has not yet grown to its full potential Thailand grows more slowly than many countries in the region. The lives of small-scale citizens are still fragile. The government must therefore push for GDP growth to meet the target. The economy expands at an annual average of 5 percent in the next 3-4 years.
Mr. Chulphan emphasized that digital money is not a conjuring up of new money. Didn't write a program to create new crypto, didn't print additional money. The source of funds is still in line with the legal framework of the BoT, under which financial discipline is maintained. The fiscal department insists on using budget allocation methods for unnecessary projects. Ready to adjust the conditions for using the money, such as setting the period for using the money to 6 months, the radius for using the money in an area of 4 km. may be expanded to the sub-district level, district level, or provincial level, imposing prohibitions, such as prohibiting the use of digital for savings. Because you want to spend money at the specified time Prohibiting the use of money to pay off debts Buy evil products Under these conditions, several subcommittees will convene urgently. To summarize all aspects by the end of October. to offer a digital board The Prime Minister presided over the consideration on Tuesday, October 24, 2023.
Mr. Kritsada Chinavicharana, Deputy Minister of Finance, said that the consumption that has expanded very much in 20 years is an expansion of only some groups. especially travel groups not distributed to other groups Exports still face problems from the global economic slowdown. public investment From the 2024 budget, it will take early next year before it can be released into the system. The important engine during this period is Stimulate consumption to spread to all parts. Because of agricultural income in the first 8 months of the year Still negative -2.3 percent from the same period last year. Because the consumption of grassroots groups has not yet grown. Ready to coordinate fiscal policy with the financial policies of the Bank of Thailand To coordinate and work together
Mr. Paophum Rojanasakul, Secretary to the Minister of Finance, said that moving forward with the project to distribute money via Digital Wallet of 10,000 baht per person consists of the first issue: Digital top-up It's a top-up unlike last time. Because the conditions for using the money are set Affecting many dimensions of the economic impact of the country Digital money is convenient, fast, and more secure. The difference is that past research cannot be used to calculate the impact of new projects. which is being pushed
Regarding the second issue, distributing 10,000 baht of digital money per person is not the only way to stimulate consumption. But where the money is is making small investments in the community. create a new career Create a new investment Helps reduce social inequality Therefore, it is a positive effect on the economy. Issue 3: The development of digital infrastructure occurs. Take it to the next level to become a super app. Moving towards digital government Supports the country moving into a digital economy society Create enormous value
Issue 4: The project to distribute money via Digital Wallet, 10,000 baht per person, is just one of many measures. The government is gradually bringing it out to develop the economy. It will be connected throughout the system. Prepare to move towards a digital society including supporting tourists, investment, agricultural sector, industrial sector modern service sector To develop into a new era economy Therefore, there must be a blockchain system to support it. The last point is Differences in stability and potential In the past, Thailand's growth has been stable. But Thailand is growing below its current potential. So it's still not enough. When Thailand moves towards an aging society Therefore, every aspect of income must be found to support it through many projects. To push towards a welfare state
Mr. Lawan Saengsanit, Permanent Secretary of the Ministry of Finance, said that the Ministry of Finance is ready to work to coordinate fiscal policy. With the BoT's monetary policy, it is like driving a car with the Ministry of Finance stepping on the accelerator. Monetary policy acts as a brake. Therefore, you have to drive to have a rhythm that blends together. In order to drive smoothly and safely, it is not a driving depot. But the Bank of Thailand is just waiting to apply the brakes. The car will not be able to go ahead. Treasury - National Bank Therefore, we must discuss together closely. Therefore, please believe in the professionalism of the Treasury Department. In maintaining fiscal discipline.
Source: Thai News Agency