Thailand’s main opposition party is promising an airdrop of about 500 billion baht (around $15 billion) in cash within months of its coming to power.
The party official said that the move is expected to help recover the country’s struggling economy and provide relief to those battling “neck-deep debt.”
- According to a Bloomberg report, a Pheu Thai-led government plans to distribute 10,000 baht each to about 55 million citizens who are 16 years and above if it wins the general election slated in May.
- Prommin Lertsuridej, who is tasked with leading the party’s economic policy committee, revealed that the funds will be disbursed with the help of digital wallets built on blockchain technology.
- This will enable individuals to spend on goods and services in their neighborhood.
- Srettha Thavisin, who is one of the party’s three prime ministerial candidates, was quoted saying
“Our country has been economically bruised over the last eight years, with less income and more expenses for the people. “The current government has been feeding IV drips with small money handouts. That’s not the right way and doesn’t stimulate the appropriate and right economic growth
- The opposition party has also promised a steep increase in minimum wages. Steps will also be taken to triple farm income and a minimum monthly household income guarantee.
- While crypto trading and adoption are popular in Thailand, the ruling elite has been sending conflicting messages about the sector.
- Last month, the Thai government was preparing a series of tax breaks and incentives for crypto firms that issue digital tokens.