Thailand approves $521 million additional COVID-19 relief measures

[snoop1130]

FILE PHOTO: A view of Bangkok's port along Chao Phraya River is photographed during sunset in Bangkok, Thailand, June 2, 2021. REUTERS/Athit Perawongmetha/File Photo

 

BANGKOK (Reuters) - Thailand's cabinet on Tuesday approved an additional 17 billion baht ($521 million) of financial support for people affected by restrictions aimed at containing the country's biggest coronavirus outbreak, a government spokesman said.

 

The restrictions https://www.reuters.com/business/healthcare-pharmaceuticals/thailand-extends-stricter-covid-19-measures-until-end-august-2021-08-01 were imposed in July in 13 provinces including Bangkok before being extended into August and expanded to 29 provinces. Those curbs have been eased https://www.reuters.com/article/idUSL1N2Q006L from this month.

 

About 16.1 billion baht will be provided in a second month of support for employers and employees in the 13 provinces, while 862 million baht will be for those who missed earlier assistance, spokesman Thanakorn Wangboonkongchana told a briefing.

 

The government has so far approved 34 billion baht for those affected by the restrictions, he said.

 

The cabinet also approved 20 billion baht of housing loans for lower income earners, which will be provided by the Government Housing Bank, said deputy government spokeswoman Rachada Dhnadirek.

 

The loans offer an interest rate of 1.99% for the first four years for borrowers with a monthly income of up to 25,000 baht and for a home of up to 1.2 million baht, she said.

 

-- © Copyright Reuters 2021-09-07

 

- Whatever you're going through, the Samaritans are here for you

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

[hotchilli]

12 hours ago, snoop1130 said:

Thailand's cabinet on Tuesday approved an additional 17 billion baht ($521 million) of financial support for people affected by restrictions aimed at containing the country's biggest coronavirus outbreak, a government spokesman said.

Yeah gods... how much has the government borrowed to date?

[zzaa09]

2 minutes ago, hotchilli said:

Yeah gods... how much has the government borrowed to date?

Borrowing from nothing leaves less than nothing. 

 

That is unless all this funding is derived from our very good friends at the IMF or World Bank or Uncle Sugar.

Perfectly acceptable. Not really loans, but black mail.

[Eric Loh]

1 hour ago, zzaa09 said:

Borrowing from nothing leaves less than nothing. 

 

That is unless all this funding is derived from our very good friends at the IMF or World Bank or Uncle Sugar.

Perfectly acceptable. Not really loans, but black mail.

Fundings will be from the central budget not IMF or WB. The only worry is that approval from fundings from central budget need not go through the scrutiny of Parliament and can be approved by the cabinet. This can lead to corruption and wasteful spending.  

[lujanit]

The trough must be nearly empty.

[MrJ2U]

They still have large foreign cash reserves.

 

If that begins to dwindle down then will see the effects on the baht.