Throughout many decades the economy of Thailand has been one of the that has been in a spot of bother and there have been many such struggles that the country has been facing in terms of the economy of the nation has it has been one of the most luggage economies of the world as it has failed to register GDP growth over many years and that has been one of the reasons why a lot of people of the country are pretty unhappy and also not very satisfied with the government which also leads to the situations that they are facing every November then which is also pretty not that suitable.
There have been several things that have been tried by the government of the country that are aimed towards building a better economy in the future for the nation and also to help the people of the nation which is going to be making sure that the economy gets a bit stable and also provides the necessary aid to the people of the country but unfortunately, all of the purposes have not been filled by these plans that the government initially had and that has been also a lot of such things that failed as for the plan that for made previously.
In the recent few years, there have been a lot of such controversial bills that have been tried to be passed by the government of the country but there have been a lot of such situations when these were opposed by many people within the government as well as the country as well because of which many bills did not get past by the government and there were a lot of controversy is related to much such decision as well which were passed and some of the months which were proposed as well.
Recently the Government of Thailand has decided that they are going to be passing a previously controversial decision that is also aimed towards improving the sluggish economy of the country there is going to be a handout program that involves 13.8 billion dollars worth of digital cash that is going to be handed over to the citizens of Thailand under a few conditions that are going to be deciding who is going to be the beneficiary of that particular program by the government.
According to the program, there is going to be a distribution that involves around 10000 Baht which is approximately 275 US dollars to around 50 million of the citizens. This digital currency is going to be needed to be used within 6 months at local establishments only which is going to be the only purpose for which these currencies can be used. Along with that, there are a few conditions that need to be followed to get this particular program for the citizens as people who are earning less than 1890 US dollars or 70000 Baht are going to be eligible to get the funds in their bank accounts as it is going to be one of the biggest conditions that I need to be followed.
This huge program is going to be sponsored by the budget of the country which is also going to be combined with the budget for 2 years that is going to be of 2024 as well as 2025 and both of these budgets are going to be combined to sponsor this project along with some other funding that is received by the bank of agriculture as well which is also the countries on Bank.
There are a few other restrictions as well on how these funds can be used there are a few prohibitions of the purchases that can be done with the usage of these funds which include alcohol fuel as well as online transactions. There has been huge criticism about this program by the government as The Economists has always been on the top of the questions that have been raised in the effectiveness of making sure that this decision is going to be helping to grow the economy of the country as well as also how this is going to be impacting the public debt as well.
All in all, it is going to be a very interesting move to see how these things are going to settle down after a few months as the digital wallet scheme is going to be a very significant decision that has been taken in terms of the economic policy for the country which is already going through a lot of Economic struggle as well as many issues around it as well which is something that day feel is going to be pulling them out of this economic struggle as well.
Thanks For Reading My Article
I Hope you liked it
FreeCrypto
Posted Using InLeo Alpha