Thai cabinet approves $1.45 billion of projects to help economy

[snoop1130]

FILE PHOTO: Construction workers are seen in a building in Bangkok, Thailand March 8, 2017. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand's cabinet on Tuesday approved 45 billion baht ($1.45 billion) of projects aimed at reviving the economy, the prime minister said, as the tourism-reliant country struggles with a third wave of coronavirus infections.

 

The projects would improve the local economy and community, Prayuth Chan-ocha told reporters, without giving further details. It follows an economic relief package worth 255 billion baht approved last week.

 

The cabinet also approved a draft budget bill for the 2022 fiscal year starting in October, which forecasts spending of 3.1 trillion baht ($99.71 billion) and a deficit of 700 billion baht, government spokesman Anucha Burapachaisri said in a statement.

 

Parliamentarians are expected to debate the first reading of the bill between May 31 and June 2, he said.

 

Thailand on Tuesday reported 1,919 new COVID-19 infections and 31 deaths.

 

The latest outbreak, which began in April, has accounted for two thirds of Thailand's total cases and about 80% of fatalities.

 

Restrictions to curb the spread has slowed economic activity, dragging the Thai Chamber of Commerce's confidence index to a record low of 27.6 in April from 30.7 in March.

 

-- © Copyright Reuters 2021-05-11

 

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[ThailandRyan]

Building more tourist attractions?  Giving money to the temples to add on?  What exactly are the specifics.  They need to be supporting the country and the people right now and getting this covid situation and vaccinations rolled out instead of trying to build for the future in order to help the economy rebound later.....

[rumak]

1 hour ago, snoop1130 said:

and a deficit of 700 billion baht

 

there they go,  copying those first world countries once again .

 

i admit it,  the theory of economics governing this world sure baffles me.

 

as far as i can tell,   its spend and siphon off as much money as you can.   encourage everyone to borrow and get neck high in debt,   then when all goes pear shaped print lots more money , pocket some,  give the rest to the banks to begin the whole process once again ( fancy names like QE  and others) .

 

WOW !     

[MasterBaker]

it's a magic how you print so much money and manage to keep baht so strong

[colinneil]

13 hours ago, snoop1130 said:

Parliamentarians are expected to debate the first reading of the bill between May 31 and June 2, he said.

What is the point of that? Debate all they want, will not make any difference, as 1 man decides whats going to happen, and takes no notice of anybody else. 

[Sydebolle]

...... and six times that much for Covid? 

[Andycoops]

1 hour ago, colinneil said:

What is the point of that? Debate all they want, will not make any difference, as 1 man decides whats going to happen, and takes no notice of anybody else. 

That's what Czar 's do.

[hotchilli]

14 hours ago, snoop1130 said:

Thailand's cabinet on Tuesday approved 45 billion baht ($1.45 billion) of projects aimed at reviving the economy, the prime minister said, as the tourism-reliant country struggles with a third wave of coronavirus infections.

Just buy some bl**dy vaccine get into people and the economy can re-start itself.

[hotchilli]

1 hour ago, MasterBaker said:

it's a magic how you print so much money and manage to keep baht so strong

A spin-off from the space race... the invention of teflon coating things.

[hotchilli]

15 hours ago, snoop1130 said:

the prime minister said, as the tourism-reliant country

I thought it was only maybe up to 20% of the GDP?

Or is his memory not as good as it once was?

 

[Misterwhisper]

What the people in this country don't need at this moment is government spending on ambiguous "projects" (of whose budgets a huge amount is going to be siphoned off by the usual suspects anyway). The people need direct, intangible aid and assistance.

[Brierley]

3 minutes ago, hotchilli said:

I thought it was only maybe up to 20% of the GDP?

Or is his memory not as good as it once was?

 

Reliant upon is not the same as solely dependent upon.

[zyphodb]

15 hours ago, ThailandRyan said:

Building more tourist attractions?  Giving money to the temples to add on?  What exactly are the specifics.  They need to be supporting the country and the people right now and getting this covid situation and vaccinations rolled out instead of trying to build for the future in order to help the economy rebound later.....

This is nothing to do with helping the people or country, just keeping the gravy train going, keeping the trough lined for the Piggys...

[Venom]

15 hours ago, snoop1130 said:

Thailand's cabinet on Tuesday approved 45 billion baht ($1.45 billion) of projects aimed at reviving the economy,

Who's economy? ????

[Amused]

Yet another statement without substance, as usual and the case with most government administrations world-wide.

 

The proof is not in the baking of a cake, it is the tasting of a cake.

 

Thai bake alot of cakes with the privilaged few that get to taste the cake..

 

Proper education and training is required.

 

Much better social care with much higher basic minimum salaries plus

enforceable workers rights.

 

Far better social care rights are needed all round to help motivate and stimulate pride, respect and ambition in a individual's life.

 

Human outlook has changed dramtically, but still there are many cultures that refuse to move on and stuck living in the past which is not productive..

 

Humans make life what it is, which is cxxp! 

 

Nature is what it is, which humans disrespect.

 

Simple logic.

 

 

[Excel]

1 hour ago, hotchilli said:

I thought it was only maybe up to 20% of the GDP?

Or is his memory not as good as it once was?

 

What memory ? ????????

[GreasyFingers]

Wonder if they are going to bring workers in from Myanmar and Cambodia to be construction laborers.

[Bradmeister]

31 deaths yesterday? Exceeding projections of 16 per day over 5 weeks.....

 

When will the Thai People be allowed they're vaccines minister? 

 

100 deaths per day? 1000 deaths per day? ...... from almost 0 a day to 31 deaths a day.....