Fiscal incentives may reward farmers bypassing Thai government’s debt suspension plan

[webfact]

 

A source from the Finance Ministry, who asked to remain anonymous, has revealed that farmers who opt out of the government’s planned debt suspension programme may be rewarded with incentives.

 

This policy is reminiscent of one enacted during the Thaksin Shinawatra administration and is designed to encourage fiscal discipline among farmers.

 

Previously, in the period between 2001 and 2004, the Thaksin regime introduced a three-year debt suspension programme for individual farmers with debts up to 100,000 baht. This programme also provided incentives, such as a reduced interest rate of 3%, for farmers who chose not to participate. Interestingly, the numbers showed that almost half of the farmers, 49%, chose not to enrol, while 51% did.

 

The present government anticipates the debt suspension programme will be applicable to approximately 4 million small-scale farmers and 3 million small and medium-sized enterprises (SMEs). The relief is planned to be available for three years for small farmers and one year for SMEs.

 

by Alex Morgan

VCG Photo via news.cgtn.com

 

Full story: The Thaiger 2023-09-25

 

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[hotchilli]

5 hours ago, webfact said:

Previously, in the period between 2001 and 2004, the Thaksin regime introduced a three-year debt suspension programme for individual farmers with debts up to 100,000 baht. This programme also provided incentives, such as a reduced interest rate of 3%, for farmers who chose not to participate. Interestingly, the numbers showed that almost half of the farmers, 49%, chose not to enrol, while 51% did.

And the farmers still plead poverty every year.