Report of govt borrowing Bt3 trillion in wake of Covid-19 completely false, says PDMO

By THE NATION

 

 

The Public Debt Management Office (PDMO) has dismissed claims published in the www.siamtopicnews.com that the government is planning to borrow Bt3 trillion in 2021.

 

Patricia Mongkhonvanit, PDMO director-general, pointed out that if the country were to borrow this amount – the highest ever in Thai history – it would push public debt beyond Bt9 trillion.

 

“The public debt management plan for 2021 has concluded that the country’s new debts stand at just Bt1.47 trillion,” she said. “This amount comprises loans taken to compensate the budget deficit of Bt623 billion, the Bt550 billion loan taken by the Finance Ministry to launch economic stimulus measures in the fallout of Covid-19, Bt133.66 billion loan taken for infrastructure projects and Bt158.78 billion loan to boost the liquidity of government agencies and state enterprises.

 

“The current plan has been adjusted from the previous plan, which had debts at Bt1.28 trillion, by restructuring old debts that have reached their term to ensure a suitable level of risk in public debt management. There is no plan to increase the new debts,” she added.

 

Patricia also said international credit rating agencies such as S&P, Moody’s and Fitch still place Thailand’s sovereign credit rating at BBB+ and have set the country’s outlook as “stable” thanks to the Finance Ministry’s efficient and careful management of public debts, which are estimated to be under 60 per cent of gross domestic product in 2021.

 

“Publishing or sharing false information, either in part or as a whole, via the internet or computer system, can be a violation of Computer Crimes Act,” Patricia warned.

 

Source: https://www.nationthailand.com/news/30398503

 

-- © Copyright The Nation Thailand 2020-11-24

 

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Comical isnt it? Report about fake government borrowing 3 trillion baht is fake, ha,ha,ha.????

16 minutes ago, webfact said:

if the country were to borrow this amount – the highest ever in Thai history – it would push public debt beyond Bt9 trillion.

 

I can't see this government being too bothered about how much they push the public debt beyond.

I am sure they are well aware that they will not still be at the helm when it is time to repay it, and, therefore, it will not be their responsibility. 

I do hope though that they get brought to justice for any of the money that they could possibly (more likely probably) have skimmed from it, if it can be proven, and dealt with accordingly.   

What unexplained wealthy general did they borrow it from because it looks like they have only spent 500bt in relative terms on the virus so far ????

Yet they do not take from the many millions in the surplus account to knock down any debt or help out the citizens, that is what is comical.  It is also one of the reasons the Baht is still high as they have reserves.  No sure I know of many countries, besides China, Germany and a few others that have a foreign reserve account as large as Thailand's currently. I mean as far as I know Trade surpluses are often seen as a sign of economic strength and competitiveness and they mean the country — much like a profit-making business — has more money in its bank account to buy other assets or reinvest, for example, in its labor force, yet they do not use it for investing anything back into the country.  Boggles the mind, especially if they are taking loans to keep Covid at bay.

23 minutes ago, sammieuk1 said:

What unexplained wealthy general did they borrow it from because it looks like they have only spent 500bt in relative terms on the virus so far ????

They didn't. Read the article.

17 hours ago, webfact said:

“Publishing or sharing false information, either in part or as a whole, via the internet or computer system, can be a violation of Computer Crimes Act,” Patricia warned.

... and that's why everyone had better believe your statements...

Who is Patricia?