Prayut attends first round of debate on Bt1 trillion loan decrees

[webfact]

Prayut attends first round of debate on Bt1 trillion loan decrees

By The Nation

 

 

Prime Minister Prayut Chan-o-cha attended the first round of House debates related to the three loan decrees to help society and economy recover in the fallout of Covid-19. The debates will run from May 27 to 31.

 

The premier said the loan decrees will bring back confidence in the nation, and the government must take immediate action to improve the situation. The government aims to borrow Bt1 trillion, which can only be done under special decrees.

 

Of the Bt1 trillion, Bt450 billion will be allocated to the medical sector, Bt550 billion for the agriculture sector and Bt400 billion to fix economic damages caused by the outbreak.

 

“These decrees will not affect public debt and the law on the Finance Ministry’s discipline. The ratio of public debt versus GDP is 57.6 per cent, and should not exceed the limit of 60 per cent,” Prayut said.

 

The premier was backed by Finance Minister Uttama Savanayana, who took the House floor providing details on the loan decrees.

 

Uttama said these loans were only 6 per cent of the GDP or 31 per cent of the national budget. The ratio of the government’s debt versus income is 31.2 per cent, well below the limit of 35 per cent, the ratio of foreign currency debt and public debt, which is limited to 10 per cent, stands at 2.53 per cent, while the ratio of external debt versus export incomes, which should be no more than 5 per cent, is only 0.19 per cent.

 

Source: https://www.nationthailand.com/news/30388618

 

-- © Copyright The Nation Thailand 2020-05-28

 

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[petermik]

And any "loose change" will be gratefully accepted

[RichardColeman]

7 hours ago, webfact said:

The ratio of public debt versus GDP is 57.6 per cent, and should not exceed the limit of 60 per cent,” Prayut said.

Yes, that maybe true, but based on actual new covid based GDP its probably 5000% over

[hotchilli]

8 hours ago, webfact said:

Of the Bt1 trillion, Bt450 billion will be allocated to the medical sector, Bt550 billion for the agriculture sector and Bt400 billion to fix economic damages caused by the outbreak.

Another bail-out scheme blamed on Corvid 19. Not that it was already in a slump last year?

[Krataiboy]

Of the Bt1 trillion, Bt450 billion will be allocated to the medical sector, Bt550 billion for the agriculture sector and Bt400 billion to fix economic damages caused by the outbreak.

 

Maths was never my strong suit, but these sums don't seem to add up. Assuming a thousand billion still equals a trillion, surely the rescue package adds up to 1.4 trillion. 

 

 

[Grumpy John]

1 hour ago, Krataiboy said:

Of the Bt1 trillion, Bt450 billion will be allocated to the medical sector, Bt550 billion for the agriculture sector and Bt400 billion to fix economic damages caused by the outbreak.

 

Maths was never my strong suit, but these sums don't seem to add up. Assuming a thousand billion still equals a trillion, surely the rescue package adds up to 1.4 trillion. 

 

 

Well,  it's pretty obvious your not a Thai trained accountant!  ????

[Sydebolle]

Bt   450 billion to the medical sector 
Bt   550 billion for the agriculture sector and
Bt   400 billion to the economy
Bt 1'400 billion - any where else on the planet, except Thailand - there it is only B 1'000 billion. Special Discount.

Has anyone of these people ever thought how this, together with all the other financial mess is to be paid back? Eggs are sold below the production costs (according to yesterday's media), tourism is ZERO, export must have nosedived into free fall and domestic consumption might also have seen better days as millions of people now where still working and earning money a few months ago. 

Good luck with your finances; alternatively do it like the US - just buy the best money printing equipment there is and start running 'em 24/7 ????