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171

Thailand is set to roll out a controversial $13.8 billion handout plan in digital money to citizens (apnews.com)

submitted 1 month ago by lemmee_in@lemm.ee to c/world@lemmy.world

58 comments fedilink hide all child comments

Thailand’s prime minister said Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy.

The government announced in April the widely criticized ambitious plan, named the Digital Wallet, meant to give 10,000 baht (about $275) to 50 million citizens in digital money to spend at local businesses.

However, economists have criticized the program, calling it an ineffective way to contribute to sustainable economic growth compared to other measures.

Thailand has in recent years suffered from a sluggish economy that appears to have deteriorated with no clear sign of growth. This month, the World Bank’s Thailand Economic Monitor projected GDP growth of 2.4% for the year 2024.

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[–] Evil_Shrubbery@lemm.ee 18 points 1 month ago* (last edited 1 month ago) (1 children)

With nothing being measured by the stock market growth, yes, that is correct.
(Also those were tiny compared to free "stimulus" money for corps)

And the other way around too - all the trickle down y'all regan-ed yourself into, in what sense did that ever help anyone, not measured by the stock market?

(And this isn't even counting central banks printing money to buy govies & benefiting only the investors with that monetary policy, and for an insane amounts (7+ trillion sustained on the books?) over insane number of years - and all this do the stock market wouldn't temporarily crash, at the cost of inevitable inflation surge. This too is a stimulus, the biggest one actually. Monetary policies are for stabilisation of cycles, not a decade of producing one.)

But yes, if you dont define "what works" by "what works for you personally" then stimulus checks absolutely work, all over the world.

Also Alaska basically has monthly stimulus checks, for no particular need from the government to do so.

[–] learningduck@programming.dev 1 points 1 month ago

One problem, though. In this case we still don't know the source of this money that they are handing out. Would it become gigantic public debts, while the money will change hands to corporates very soon? The entire country is monopolized by a handful of families.