Thai PM Yingluck Urges Agencies To Only Invest In Beneficial Projects

[webfact]

PM urges agencies to only invest in beneficial projects

Piyanart Srivalo

The Nation

BANGKOK: -- Prime Minister Yingluck Shinawatra told top bureaucrats yesterday that their proposals for the 2013 budget should focus on stimulating the country's economy in the midst of economic problems in America and Europe.

She advised them to also consider Thailand's need to improve its competitiveness ahead of the implementation of the Asean Economic Community in 2015.

"The global economic situation has seen fluctuations. There is high unemployment in the United States and a debt crisis in Europe, while the price of oil is increasing. Thailand will certainly suffer from the impacts," Yingluck said.

"These problems have to be taken into consideration while preparing the budget. We will have to rely more on the economy and stimulate local spending. That means increased industrial output, more tax revenue and higher government spending."

The prime minister was addressing a gathering of agency chiefs and provincial governors at the Impact Arena, Muang Thong Thani, where she presided over the opening of a seminar on government guidelines on the budget for fiscal 2013.

Yingluck said Thailand's economy had only expanded by 0.1 per cent last year due to the flood crisis, though this year the government expects the gross domestic product to grow by 5.5-6.5 per cent.

According to the premier, about Bt2.4 trillion will be needed for state spending in fiscal 2013, which is about Bt20 billion more than is being spent in the current fiscal year. Yingluck explained that the government needed to borrow in order to compensate for the Bt300-billion budget deficit, adding that even though there were many on-going development projects, there was still a need to tighten the belt. She then went on to say that funds should only be requested for necessary projects.

-- The Nation 2012-02-24

[Pib]

I'm sure some corrupt officials are already counting how the money will be beneficial to them....whoops, I mean how to benefit the country (and them).

[Ricardo]

"These problems have to be taken into consideration", however it's OK to ignore the global-price of rice, and continue to expect to sell Thai-grown rice at a much-higher price ?

[rubl]

Yingluck said Thailand's economy had only expanded by 0.1 per cent last year due to the flood crisis, though this year the government expects the gross domestic product to grow by 5.5-6.5 per cent.

According to the premier, about Bt2.4 trillion will be needed for state spending in fiscal 2013, which is about Bt20 billion more than is being spent in the current fiscal year. Yingluck explained that the government needed to borrow in order to compensate for the Bt300-billion budget deficit, adding that even though there were many on-going development projects, there was still a need to tighten the belt. She then went on to say that funds should only be requested for necessary projects.

On 2012-02-13 the MoF said GDP might increase with 7%, but that was just a 'might'

In the topic about THB 30 billion on flood walls the MoF said the 2012 budget deficit of THB 400 billion could be lowered to 300 billion with a FIDF windfall of 60 billion and 20 billion not needed in the 2013 budget.

how come these politicians never seem to be able to be consistent ?

[rubl]

"These problems have to be taken into consideration", however it's OK to ignore the global-price of rice, and continue to expect to sell Thai-grown rice at a much-higher price ?

Which reminds me. What happened with the THB 350 - 400 billion (depending on who you ask) budget for the 2011-10-07 - 2012-02-28 Rice Price Pledging scheme? Any indication how much money of the reserved budget has not been spent and may be used to further reduce the 2012 deficit?

[animatic]

Beneficial to whom? That is the big question.

[lungmi]

"10% of lost is the normal lubrifiant lost (for your car it is the same), 20% is the international standard, the Thaksin standard is up to 40%."

(Thai pensioner, before director of the financial department of our Province, when we saw the TV transmission.)

[OzMick]

"....... there was still a need to tighten the belt."

Said while spending like a drunken sailor on shore leave. Do as I say, not as I do.

[Bagwan]

How many factories are still off stream? And the GDP will rise 7%? Thai logic?

[WackySomchai]

Benficial projects like useless iPads ?

[anterian]

Every country talks about growth, what happens when we eventually hit the environmental limits to growth?