Posted 1/29/2024, 10:02:00 PM
Government Declares Economic Crisis to Justify Controversial Digital Wallet Handout
- Government says current economy is in a crisis to justify $15B loan for digital wallet scheme
- No official definition of "economic crisis", government is interpreting situation as crisis
- Economy impacted by high household debt, low growth, consumption, savings, investment
- GDP only expanded 1.8% in 2023
- Digital wallet handout likely postponed from original May timeline, may reduce stimulus effect