As part of the government’s year to address household debt, the Cabinet has approved in principle a plan to develop people’s financial skills.
According to Thanakorn Wangboonkongchana, the government’s spokesperson, the 2022-2027 plan includes eight measures and 19 strategies. The goal was to get people to understand the importance of money management and access to financial information.
Thais of all ages will be expected to know how to properly manage their assets, avoid incurring unnecessary debt, and maximize their savings under the new plan. Furthermore, the plan will educate people on digital assets and how to benefit from them while minimizing risks.
In a related development, Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow stated that the government was confident that cryptocurrency depreciation would have no impact on the Thai economy. He emphasized their low investment volume in comparison to the stock market.
Bitcoin, the most valuable cryptocurrency, was worth around $21,900 as of Wednesday morning, a far cry from its all-time high of around $68,000 in November 2021.
Minister Supattanapong emphasized that the administration has consistently warned investors about the volatility and risks associated with cryptocurrency. He also urged people to exercise extreme caution when investing in digital assets.