BANGKOK: Thailand’s Prime Minister Shretha Thavisin on Monday (Oct 2) said her government will inject 560 billion baht (US$15.23 billion) into the economy next year through its signature digital wallet policy.
The incentive will be driven by a key element of Sretha’s Pheu Thai party’s election platform, where every citizen over the age of 16 will receive a handout of 10,000 baht in the form of digital money to use in their local community.
Real estate mogul Sritha, who came to power in August, is trying to revive an economy that has been sluggish due to weak exports and low investor confidence.
In livestreamed comments to government officials, he said he wanted to attract investors into green energy and issue 30 billion baht in sustainability bonds. He reiterated that the government will pursue a series of free trade agreements.
Shretta, who is also the finance minister, said the government will reduce power prices and triple farmers’ income in the next four years.