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Increase in public debt ceiling raises questions on government’s competence


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Finance Minister Arkhom Termpittayapaisith recently announced that the government needed to increase the public debt ceiling to 70 percent of gross domestic product (GDP) from 60 percent.

 

The remarks came amid the ongoing COVID-19 pandemic and slower economic growth. The move, which increases the government’s ability to raise funds, marks an about-turn for Prime Minister Prayut Chan-o-cha and Arkhom as both had earlier promised to keep public debt at the 60 percent level in order to maintain fiscal stability.

 

Government under fire

 

Experts criticized the step while assailing the government’s lapses in managing the economy and its tardy vaccination rollout, which together have had ripple effects across the health, social and economic sectors.

 

Full story: https://www.thaipbsworld.com/increase-in-public-debt-ceiling-raises-questions-on-governments-competence/

 

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4 hours ago, webfact said:

Experts criticized the step while assailing the government’s lapses in managing the economy and its tardy vaccination rollout, which together have had ripple effects across the health, social and economic sectors.

Ripple effects have a habit of causing more damage on the return leg.

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I'd like to know if they've been picking into the foreign reserves, or not. Not that we are likely to get an honest answer, but it sure must be like a little temptress in a mini-skirt dancing around in the minds of those consumed by greed and power in high orifice.

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1 hour ago, tomacht8 said:

Increase in public debt ceiling raises questions on government’s competence.

Nonsense. Every 'Western' government has done the same thing as they keep the populace & the economy afloat during national lockdowns.

 

The Thai government is no doubt incompetent in myriad ways but this happens not to be one of them.

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14 hours ago, timendres said:

This is raising questions about the government's competence?

Not really run like a government, but a organized criminal syndicate. 

That's how it's always been.

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Inept to say the least.

 

Its hard to believe Anutin is still in that important position as Health minister.

 

Any other country he would be locked up for malfeasance or put in a corner with a dunce cap.

 

At least there mismanagement is helping the baht to tank.

Thanks guys.

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