Thailand’s $15 Billion Handout Plan Faces Growing Criticism
- Ex-central bank governors, academics join opposition to policy
- PM Srettha doubles down amid talks of rift with central bank
Shoppers and pedestrians on Yaowarat Road in the Chinatown area of Bangkok.
Photographer: Nicolas Axelrod/BloombergThis article is for subscribers only.
Thailand’s former central bank chiefs joined economic experts in urging the government to scrap its flagship $15 billion cash handout policy, warning that it risks stoking inflation and hurting long-term fiscal discipline.
The “digital wallet” program, which would give most Thais a one-time handout of 10,000 baht ($270), will do more harm than good, according to a statement signed by 81 economic experts.