Thailand’s Prime Minister Orders State Agencies to Inject Funding into Economy

[snoop1130]

 

BANGKOK (NNT) - Thai Prime Minister Prayut Chan-o-cha wants to see state agencies inject funding into the economy as quickly as possible for the new fiscal year starting in October.

 

Deputy government spokeswoman Traisuree Traisoranakul said the prime minister has ordered state agencies to accelerate their budgetary spending in the fortnight of the current fiscal year, to help boost the economy. State agencies have large budgets drawn from general spending, the central fund and the budget generated by the one-trillion-baht COVID-19 relief and reconstruction loan.

 

According to Ms. Traisuree, Gen Prayut told the Cabinet meeting last week that state agencies play an active role in disbursing funds to stimulate the economy. In light of the COVID-19 pandemic, the state budget is an important driver for the economy.

 

By the end of last month 269 projects, worth 996 billion baht, or 99% of the loan, had been approved. However, the actual disbursement of funds to implement the projects stood at 841 billion baht. Most of the money, 684 billion baht, went to financing 20 projects aimed at providing compensation for losses or reduction of personal incomes caused by the pandemic and to help other groups, such as farmers.

 

-- © Copyright NNT 2021-09-13

 

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[ikke1959]

a high percentage of the funds are lost in several pockets already.. There is never a check what, who and how they have spend the money

[matchar]

Gotta boost those GDP figures right.

[trainman34014]

Ah; a green light for State Agencies to inject more money into their own Bank Accounts !

[zzaa09]

Where might this wealth be derived from?

[Albert Zweistein]

Blah blah blah blah blah !

[Soikhaonoiken]

Hmmm, things must be getting desperate now Mr PM.... 

[klauskunkel]

How Ornamental Lampposts rescue the Thai Economy

- a financial thesis by the usual state officials (a collaboration)

[Nanaplaza666]

He can order himself to do the same . I bet the outcome will be the same . Hesitant people to afraid to part with their well earned(corrupted funds).

[superal]

The pandemic has hit the low paid workers whilst the top brass are still making vast profits with soaring exports . However the working class must be maintained in order to continue to serve up the cheap labour and to work in the communities by way of government projects or the consequences could see poverty on a massive scale . In other words , you cannot ignore the welfare of the poor completely otherwise it could end up in a national riot .

[RobU]

so many injections to do. Inject the people, inject the economy, when will it end?