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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
THAILAND
Thailand’s new government is going to persist with its digital wallet handout election promise despite criticisms and fears that it will boost inflation and go against fiscal rules. PM Srettha’s chief of staff Prommin has said that it is important to boost soft economic growth, according to Reuters. Thailand lags the rest of ASEAN with Q2 growth of only 1.8% y/y compared to a 5% target and Indonesia’s 5.2%.
- The government wants to borrow the money to finance the programme, which requires parliamentary support. THB 10k will be given to over 70% of the population to spend locally within 6 months from May next year.
- The government discussed the scheme with the Bank of Thailand, who made some changes, but Prommin said that it won’t affect the fiscal position or Thailand’s credit rating, according to Reuters. There won’t be cuts to government spending to pay for the handout but it will be paid back from extra revenue generated from a stronger economy.
- The government believes that many will pool the money to set up new businesses or build a home.
Thailand vs Indonesia real GDP y/y%
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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