BANGKOK, (TNA) – The core opposition party, Pheu Thai, accused the government of unnecessarily increasing public debts by planning to additionally borrow 700 billion baht and suggested it drop unnecessary budgets instead.

 

Pichai Nariptaphan, deputy leader of the Pheu Thai Party, said he was surprised with the cabinet’s approval for the Finance Ministry’s proposal to borrow 700 billion baht additionally. The proposal was submitted as an unscheduled matter in the cabinet’s latest meeting and lacked details, he said.

 

The finance minister had just insisted late last month that the government had not spent 380 billion baht from its previous 1-trillion-baht borrowing project and the remaining sum was enough to help people affected by the COVID-19 outbreak without an additional loan, Mr Pichai said. He urged Prime Minister Prayut Chan-o-cha to elaborate on spending in the previous 1-trillion-baht borrowing.

 

Full story: https://tna.mcot.net/english-news-700506

 

-- © Copyright TNA 2021-05-21

 

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I sure wish Thailand - and all the countries of the world - borrowing for covid would tell us when they borrow it exactly how it will be paid back and what tax rises are coming before they borrowed even more !

Elaborate is a wholly unreasonable request to be asking this general and his cohorts ????

57 minutes ago, RichardColeman said:

I sure wish Thailand - and all the countries of the world - borrowing for covid would tell us when they borrow it exactly how it will be paid back and what tax rises are coming before they borrowed even more !

And also how the money is spent - with receipts ????

3 hours ago, webfact said:

The finance minister had just insisted late last month that the government had not spent 380 billion baht from its previous 1-trillion-baht borrowing project and the remaining sum was enough to help people affected by the COVID-19 outbreak without an additional loan, Mr Pichai said. He urged Prime Minister Prayut Chan-o-cha to elaborate on spending in the previous 1-trillion-baht borrowing.

The trough must be kept topped up.

Country is so badly mismanaged that even a blind can see already.

 

Government keeps coming up with some rescue packages and this and that but for some reason their “assistance “ is not seen or felt by majority.

 

one might think they were intentionally trying to destroy economy or what’s left of it 

10 minutes ago, hotchilli said:

The trough must be kept topped up.

Not many are being led towards it though are they. 

4 minutes ago, jacko45k said:

Not many are being led towards it though are they. 

Only the chosen few without having to divulge bank accounts.

4 hours ago, webfact said:

The finance minister had just insisted late last month that the government had not spent 380 billion baht from its previous 1-trillion-baht borrowing project

 

Ahh, you see. But it has been earmarked for a few pockets. So, consider it spent.

It's been a good year. ????

Only 30 billion of this proposed Loan, is going directly towards fighting Covid by being ear marked for Vaccines , Hospitals , labs , Research Etc.

The remaining 630 Billion will presumably be spent on various Gov,y schemes such as " You shop, we pay half " Etc, propping up bad Loans, and aiding Business's that are poorly run.

The borrowing of this 700 Billion also Takes Thailand very, very, close to its limit of 60  % of GDP on borrowing, and any further borrowing probably will not be an option..

This limit was imposed upon Thailand after the SE Asia financial crash of 1997 I believe

7 hours ago, RichardColeman said:

I sure wish Thailand - and all the countries of the world - borrowing for covid would tell us when they borrow it exactly how it will be paid back and what tax rises are coming before they borrowed even more !

Who are they borrowing from ?  

Big Daddy China ?Russia?Japan? Who Knows? Countries are borrowing money All the time .Never hear from Who/what Country.

I hope they borrow more! € already 38,4 go go go go..... lol

 

Thaimaa

baht

THB

38,40

+0,07 %

 

 

Edited May 21, 20215 yr by 2 is 1

12 minutes ago, digger70 said:

Who are they borrowing from ?  

Big Daddy China ?Russia?Japan? Who Knows? Countries are borrowing money All the time .Never hear from Who/what Country.

You dont need to know

3 minutes ago, ChipButty said:

You dont need to know

Why? Keep the Natives in the Dark like with many other secrets.

Information like this should be for the Public to know so they know who Owns /Buying the country and Who's the big boss.

 

I wonder if that finance minister will come with an explanation. Always the same in Thailand lying and then when they are caught they remain silent. 

12 hours ago, RichardColeman said:

I sure wish Thailand - and all the countries of the world - borrowing for covid would tell us when they borrow it exactly how it will be paid back and what tax rises are coming before they borrowed even more !

Does it really matter?

All supposed wealth, the world over, is based on deluded fantasy.