Govt to launch more relief packages as Covid surges to record high

[webfact]

Govt to launch more relief packages as Covid surges to record high

By The Nation

 

Prime Minister Prayut Chan-o-cha

 

The government is seeking measures to combat the economic impact of the new Covid-19 outbreak, Prime Minister Prayut Chan-o-cha said on Monday.

 

Prayut spoke after the daily infection rate rose to 745 cases, the highest since the virus outbreak early last year.

 

The PM expressed concern over the impact on the 28 provinces under “maximum controls” after being hit by more than 50 cases. Provincial governors would have to decide on what restrictions were appropriate for the Covid-19 situation in their province, said Prayut.

 

Responding to calls from businesses to extend suspension of debt repayments, Prayut said the existing debt holiday had not yet ended. Many businesses are still struggling from the impact of the first outbreak, though some had resumed repaying debts to banks before the new surge in cases.

 

The PM said the fresh outbreak called for new measures for which the government would have to find funds. 

 

“If we can’t find the funding, it will be over,” he added.

 

Meanwhile the parliamentary committee responsible for monitoring Bt1 trillion of Covid-relief borrowing will convene on Tuesday for a meeting with Finance Ministry, Bank of Thailand and State Council officials.

 

Committee spokesman Akadet Wongpitakroj said it wants to amend the Covid relief emergency decree to ease conditions attached to Bt500 billion in soft loans to support small businesses. The amendment was needed because businesses have found it difficult to access the loans, he said.

 

Meanwhile, the Public Debt Management Office (PDMO), said the government has Bt400 billion left of the Bt1 trillion in borrowing to fund Covid-relief projects. The PDMO said the government had borrowed about Bt600 billion so far.

 

The Cabinet approved borrowing of Bt510 billion for Covid-relief last year. The PDMO received Bt370 billion of that money and used most of it (Bt348 billion) to relieve people’s financial burdens, said PDMO director general Patricia

Mongkhonvanit. 

 

The Cabinet also approved Bt130 million for economic recovery projects in 2020, of which Bt34 billion went to the PDMO, she added.

 

Source: https://www.nationthailand.com/business/30400682

 

 

-- © Copyright The Nation Thailand 2021-01-05

 

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[Buffy Frobisher]

Wasn't it just a week or two ago that Thailand was crowing about having such huge foreign reserves? And now they're struggling to find funds to buy vaccines and keep the population safe and fed? Seems to me that the snouts in the trough are more interested in keeping themselves there than keeping the common man alive. TiT!!

Edited January 5, 2021 by Buffy Frobisher
Typo

[bodga]

cancel yer submarine order for starters

[lujanit]

4 hours ago, webfact said:

“If we can’t find the funding, it will be over,” he added.

Try giving back all the money you and your cronies have stolen fro the Thai people.  Then there will be plenty for relief packages.

[Venom]

He wants to borrow more money. ????

[trainman34014]

Buying Torpedo's is the priority; lets the population eat cake !

[Bender Rodriguez]

submarines, tanks, moon landing

[Cake Monster]

The Big Guy is now making Statements from behind Flak proof glass

[Cake Monster]

6 hours ago, webfact said:

Meanwhile the parliamentary committee responsible for monitoring Bt1 trillion of Covid-relief borrowing will convene on Tuesday for a meeting with Finance Ministry, Bank of Thailand and State Council officials.

 

Committee spokesman Akadet Wongpitakroj said it wants to amend the Covid relief emergency decree to ease conditions attached to Bt500 billion in soft loans to support small businesses. The amendment was needed because businesses have found it difficult to access the loans, he said.

 

Meanwhile, the Public Debt Management Office (PDMO), said the government has Bt400 billion left of the Bt1 trillion in borrowing to fund Covid-relief projects. The PDMO said the government had borrowed about Bt600 billion so far.

 

The Cabinet approved borrowing of Bt510 billion for Covid-relief last year. The PDMO received Bt370 billion of that money and used most of it (Bt348 billion) to relieve people’s financial burdens, said PDMO director general Patricia

Mongkhonvanit. 

 

The Cabinet also approved Bt130 million for economic recovery projects in 2020, of which Bt34 billion went to the PDMO, she added.

I was under the impression that there had been borrowings of nearly 3 Trillion Baht , in two tranches from ADB to fight the effects of Covid upon the Country.

I see no mention of that here anywhere, so please correct me if I have this wrong.

[petermik]

8 hours ago, bodga said:

cancel yer submarine order for starters

cannot...they are being used to bring the vaccines in from mother China....

[Burma Bill]

6 hours ago, webfact said:

to launch more relief packages

 

[Patong2021]

If they cannot  get the  outbreak under control and stop the growth, Thailand may experience what we see in Europe. The PM sees that as do  the public health professionals. The country needs vaccine but much of the supply is already bought up for the next year.  

 

Foreigners can stop ridiculing,  pointing their fingers,  making sarcastic  comments because no one will win. We could very well see the country ravaged. Many poor people are hungry now and live on charity. I do not want to see broken families, poverty and misery in the country. If PM does not succeed, that is what the future holds for all.

[Natai Beach]

I dont like Prayut, but I think it is a bit rich westerners criticizing the way they have handled the economic aspect of this covid mess that is largely out of control because of western countries.

 

The “pay half” scheme has been very successful up until now, the hotel near my house has reopened and employing 110 staff as a result. Busy on the weekends with the people who have money being encouraged to spend that money because of the subsidy and helping bring back jobs in the hardest hit area (tourism). Coffee shops, bars and restaurants have all benefited as well.
Not the same profit as before for the owners, but it keeps things ticking over.

 

They have also given money to ordinary workers and farmers to help them get through this. 
 

All while not plunging the country into a HUGE debt that will take DECADES to pay back as Australia, England, Europe and the US have. 60 years is the current guesstimate. 
There is debt, but they haven’t over done it. 
 

As for the submarines, has any other country who are actually worse off than Thailand cancelled their subs?
 

Vaccines are being produced in Thailand with 26 million doses to be produced by June and this will increase by 3.5 million doses per month after June which will eventually vaccinate the whole of SEA. 
 

Covid it a disaster not of their making, the Thais have performed better than most in controlling the virus and economically. 
 

credit where credit due.

[realfunster]

8 hours ago, webfact said:

“If we can’t find the funding, it will be over,” he added.

 

That's what I like to see, measured and inspirational leadership.