Photo Courtesy of Thai PBS World The government plans to announce initiatives to reduce living costs and boost the economy in an upcoming cabinet meeting. Deputy Finance Minister Julapun Amornvivat revealed these measures would involve changes to diesel and electricity prices. A reduction in diesel excise tax is under consideration to lower retail prices at the pump and help the economy. A potential freeze on government debt payments to the Electricity Generating Authority of Thailand (Egat) is also being discussed. The Pheu Thai Party’s proposition to stimulate the economy by distributing 10,000 baht in digital cash was addressed by the party’s acting deputy leader, Kitti Limsakul, a member of the party’s policy committee. He stated that the disbursement would occur in two or three instalments, not all at once. In response to critics questioning the feasibility of this policy, Kitti clarified that the policy does not conflict with the Bank of Thailand’s (BoT) regulations and is entirely implementable. He further explained that digital money serves as a token, which can be traded for baht notes under the law on digital assets and development for the economy and society.
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