Chaiwat fears 10,000 digital currency will destroy the Thai economy

Chaiwat" fears 10,000 baht digital currency will be a typhoon destroying the Thai economy. points out that it is still not appropriate to distribute money universally Explain the source of the budget

Mr. Chaiwat Satawonwijit, MP for the Kao Klai Party, discussed the government's 10,000 baht digital wallet policy, saying that from the current Thai economic situation. and predictions for the next half year It is not yet appropriate to stimulate consumption through a universal cash distribution policy as the government claims. Because both the Bank of Thailand (Bank of Thailand), the National Economic and Social Development Council (NESDB) and the Fiscal Policy Office also indicate that the Thai economy is still in the direction of recovery. The first half of the year can expand 2. 2% indicates spending is increasing. Both consumption and investment After passing through the COVID-19 period But the problems that put pressure on the expansion of the Thai economy It depends on the country's exports shrinking in line with the world economy. Especially with China which is Thailand's main trading partner causing Thai exports to shrink for 10 consecutive months, including the World Bank (World Bank) and IMF have l owered their 2024 GDP forecasts for the United States and China. This will be a problem for exports. and Thai exports. Therefore, the problem of the Thai economy lies in exports. and private consumption rates Able to recover well Therefore, it is not appropriate for the government to use fiscal measures to stimulate private consumption. And the timing should be considered appropriately. Especially during the period when the private consumption rate contracted. and if the government continues to move forward with such policy There may be problems with the economy of Thailand. and saw that the government should review the policy To solve export problems and solve the problem of restructuring the Thai economy to give SMEs the ability to compete. Can do new business that expands quickly It's more than handing out money at the wrong place and at the wrong time.

Mr. Chaiwat is also confident that the government's digital wallet policy, which claims it will create an economic whirlwind, is It is too high a prediction. and cannot actually occur as claimed Because people will use the digital money that the government has injected. without using cash Spending therefore did not expand. and leaks every time it changes hands Moreover, it will become a typhoon that undermines the stability of the Thai economy. and leave the remains as a debt It is a fiscal burden for the country. and turned to destroy the government itself Ready to believe The results of this policy were not as great as the Prime Minister advertised according to his campaigning techniques. and will cause a loss of budget for other policies They are also confident that This policy also has various conditions. that will cause people to lose benefits, such as spending within a radius of 4 kilometers according to their house registration Because many people do not live according to their household registration a nd within a radius of 4 kilometers, will there be stores that have the potential to accept digital wallet payments? Or some stores may add additional costs to the product. Because raising money is difficult and may cause corruption Take 10,000 baht of digital currency and exchange it for 8,000 baht in cash.

Mr. Chaiwat also noted the budget sources that will be used to implement this policy. Because it will require a budget of more than 560,000 million baht, which does not include expenses for system development. and manage the system And in the past, even the Pheu Thai Party confirmed that there would be no loan to carry out the said policy. But after considering various budget sources, it is still not possible to see the picture that Where will the government get the budget from? Without borrowing the budget

Source: Thai News Agency