Thai cabinet approves additional $1.4 billion in virus relief measures

[snoop1130]

FILE PHOTO: People wearing face masks as a measure to prevent the spread of the coronavirus disease (COVID-19) are seen at a train station in Bangkok, Thailand, January 7, 2021. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's cabinet approved an additional 46 billion baht ($1.4 billion) of support measures on Tuesday for education and COVID-19-related assistance as the Southeast Asian country tackles its biggest wave of coronavirus infections to date.

 

Of the total budget, 33 billion baht will be offered directly to students, including 2,000 baht in cash and a 5,000 baht tuition fee subsidy for some, government spokesman Anucha Burapachaisri said in a statement.

 

The remaining 13 billion baht will be for COVID-19 treatment and assistance between August and September for a target group of 3.5 million people, mostly at-risk groups, he said.

 

The cabinet also agreed to increase new debt by 150 billion baht to about 1.8 trillion baht for the current fiscal year to September, in line with a borrowing plan to ease the outbreak's impact, Patricia Mongkhonvanit, head of the finance ministry's Public Debt Management Office, said in a separate statement.

 

With the increased debt plan, the country's public debt to gross domestic product (GDP) ratio is expected to be 58.88% at the end of the fiscal year, which is still within the 60% limit, she added.

 

The debt was at 55.42% of GDP as of May.

 

-- © Copyright Reuters 2021-07-27

 

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[Soikhaonoiken]

All this borrowing, and it seem to be doing very little to combat this 3rd wave,  short of vaccine, citizens going hungry, household debt escalating,  etc, etc,... 

[Scrotobike]

If GDP declines then the limit will be busted without extra borrowing.....

[dinsdale]

I wonder since the beginning last year how many billions and how many pockets. I have a feeling the fat and few pockets have got a lot and the empty ones haven't. 

p.s. ridiculous file photo. Why not shuttered up businesses in tourist areas.

 

Edited July 27, 2021 by dinsdale

[MrJ2U]

17 hours ago, Soikhaonoiken said:

All this borrowing, and it seem to be doing very little to combat this 3rd wave,  short of vaccine, citizens going hungry, household debt escalating,  etc, etc,... 

Most of it seems to be promoting international and domestic tourism.

 

I would hope they would buy 200 million doses of mRNA vaccines.