THE FINANCE MINISTER HAS SAID THAT HE WILL REVISE MEGAPROJECTS IF NECESSARY

The finance minister is preparing to invite academics in for a discussion on economic data, in order to foster same understanding, especially on the government's megaprojects, where the budget is still being maintained at 1.7 trillion baht.

Finance Minister Thanong Phitthaya (ทนง พิทยะ) said that up until now the money for the megaprojects had been maintained at 1.7 trillion baht, according to cabinet resolution. However, there is concern the projects will not be able to start in time, which could cause consequent losses of opportunities. Mr. Thanong also mentioned the concern of JP Morgan on the issue, as the problem could cause faults in grading the credibility of Thailand. Meanwhile, the managers of Jabic Japan have indicated that the agency was ready to lend money to Thailand for the projects without a problem.

The Finance Minister said he will soon invite academics, especially TDRI President Chalorngphob Susangkarn (ฉลองภพ สุสังกร์กาญจน์), for a joint discussion and synchronization of economic data, as previous assumptions by various parties could cause inaccuracies in the data.

The Finance Ministry still maintained its confidence in the economic stability and the continuity in economic expansion, despite the presence of the megaprojects that will start in October for the 2006 fiscal budget. Mr. Thanong said he will keep the current account deficit from exceeding an average of 2.5% of GDP growth. However, if the current account approached an excessive level, he was ready to immediately revise the megaprojects.

Source: thaisnews.com

Source: thaisnews.com

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Sure looks like he is doing an excellent performance in covering his ass.

On the other hand, I wonder if this is what he is being paid to do.

Seems like any buffalo on the street could call in a bunch of academics who will surely provide recommendations for any course of action and hedge them all.

Well, at least one variable is now under control since Taksin is providing additional Television access to the south to drug the Muslim population with game shows.