Photo courtesy of Nation Thailand. The Pheu Thai Party’s proposed digital handout scheme, which would cost around 500 billion baht, has the potential to increase Thailand’s GDP growth by 3% in the next year, according to the Bank of Thailand. The scheme suggests giving citizens a digital wallet with 10,000 baht to spend locally within six months. The central bank is waiting for more details before making definitive forecasts. The 2023 GDP growth forecast may be reduced due to slower external demand and the global economic slowdown. Despite this, increased private spending and a rise in foreign tourist arrivals are supporting economic expansion.
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