According to Move Forward MP Sirikanya Tansakul, the government is facing serious problems in finding the 500 billion baht required to finance the “digital wallet” plan, and the deadline for it keeps being delayed.
After making five adjustments to the details of the plan, especially regarding where the funding will come from, she mentioned that it seems the government will use the Central Fund of the 2024 fiscal year, the 2025 fiscal budget, and borrowing from the Bank of Agriculture and Agricultural Cooperatives.
She pointed out that the cabinet altered the mid-term fiscal framework on Tuesday, raising the 2025 fiscal budget to 3.75 trillion baht and increasing the amount of borrowing needed to cover the budget deficit by about 150 billion baht.
She suggested that the additional money from these two increases could be utilized to support the “digital wallet” plan.
Regarding the Central Fund for the 2024 fiscal year as a potential source of funding for the digital wallet, the Move Forward MP mentioned that the government might propose a bill to borrow extra money to cover the deficit, up to 100 billion baht, plus another 40 billion baht to be transferred from the Central Fund.
“Some people may wonder how the budget for 2024 fiscal year can be used in the next fiscal year. Sirikanya said the trick is to put the money into a Revolving Fund but, in this case, it is likely to be the State Welfare Fund which is intended for impoverished people.
Deputy Finance Minister Julapun Amornvivat responded to Sirikanya’s comments by urging opposition MPs to stop or reduce speculating about the “digital wallet” plan and wait until the scheme’s policy committee meets next Wednesday to finalize various key aspects, such as the funding sources and the application for distributing the money, among other things.
