Thailand to give 50 million people £200 each to boost economy

The controversial handout, expected to cost £9.5bn, was an election pledge made by prime minister

Thailand’s government has announced plans to give 50 million people approximately £215 each as part of a “digital wallet” scheme to boost the economy.

The scheme, a key election pledge of Prime Minister Srettha Thavisin, will cost around £9.5 billion and is expected to increase GDP by 1.6 percentage points.

However, economists have warned that the policy is inefficient and will not address Thailand’s structural economic problems, with some calling it a “band-aid” solution.

Despite controversy and uncertainty over funding and technology, the government is pressing on with the plans, with registration set to begin on August 1 and the scheme expected to come into effect later this year.