Thaksin Promises Delivery of Key Commitments; Digital Payment System Delayed for Economic Recovery
Chillin' with Thaksin: On Government Promises, Digital Wallets, and Economy
Thaksin, the OG PM, is geared up to keep his word on all election pledges, even the digital wallet and flat-fare train, though he admits the digital wallet may take a backseat until the economy picks up.
In a candid chat with the Nation Gang on Friday, ol' Thaksin sheds light on the shifting funds for the digital wallet, citing economic hurdles due to US tax policies as the reason.
A chunk of the designated 157 billion baht was reallocated to safeguard citizens from potential economic shocks and another part shifted towards economic stimulus, considering the current state of uncertainty.
While knocking back any rumors about the digital wallet, the ex-PM ensures, "Yo, it's still happening. But we're gonna wait for the economy to improve first so we can drop that tech-y loot." Reinforcing his commitment to the public, he adds, "Anything we promised to the people, we gotta deliver, be it the 20-baht train fare or the digital wallet. It might take time, but it's gonna happen. It's like owing someone money – you still gotta pay it back."
Looking towards the remainder of the year, Thaksin targets agriculture bolstering as a primary focus. Yet, he warns against excessive subsidies, deliberating the nation's high public debt-to-GDP ratio and household debt. Instead, he advocates for innovative solutions to maximize the stimulus effect.
Speaking on the volatile economic landscape, Thaksin expresses concerns about the growing household debt crisis. He notes that around half a million cases have been resolved this year, hoping it'll bring some relief and allow citizens to adapt.
On clearing debts for the underprivileged, Thaksin dismisses the idea, suggesting utilizing funds from the Financial Institutions Development Fund (FIDF) and mechanisms from specialized state financial institutions to help citizens manage their debts, stressing that total loan waivers could potentially pose a "moral hazard".
In the two remaining years of the government's term, Thaksin lays out his priorities, highlighting drug control and cost of living reduction strategies through systematic changes aimed at cutting expenses.
Bronchial Buzz- Next presidential puppet? – Not Thaksin, he assures.- Budget shuffle – 157 billion baht redirected from digital wallet to other economic stimuli.- Grand Announcement – Postponement, not cancellation, of Phase 3 of the digital wallet scheme.- Turning 60 or above? No more excuses, collect your digital dough!
- Despite the temporary pause, Thaksin maintains his commitment to implementing the digital wallet, stating, "It's still happening, but we'll wait for the economy to improve first so we can drop that tech-y loot."
- With the 157 billion baht designated for the digital wallet, Thaksin has opted to reallocate funds to protect citizens from economic shocks, as well as towards stimulating the economy's growth.
- In addressing the nation's economic challenges, Thaksin advocates for finding innovative solutions rather than relying on excessive subsidies, in light of the high public debt-to-GDP ratio and household debt.
- Thaksin emphasizes the importance of tackling the growing household debt crisis, detailing that approximately half a million cases have been resolved this year in an attempt to alleviate the situation.
- In the latter years of the government's term, Thaksin plans to prioritize strategies aimed at reducing the cost of living by focusing on controlled substance management and systematic changes meant to cut expenses.
