PM: More loans needed for economy

Published: 29/03/2009 at 11:51 AM
Online news: Breakingnews

The government needs to seek more loans to support its economic stimulus plan in the second phase, Prime Minister Abhisit Vejjajiva said.

He said it is necessary for the government to borrow more money to ensure that 1.5 million people would still be employed.

Without additional loans, the economy could worsen, Mr Abhisit said on Sunday's "Confidence in Thailand with Prime Minister Abhisit" television sho..

He assured that its spending would not affect the monetary and financial disciplines.

He expressed confidence that temporarily raising the public debt to 60 per cent of the country's gross domestic product (GDP) is appropriate and manageable.

According to the premier, obtaining loans is not complicated, since it is like borrowing money to invest in a business. But the difference is the government will have to shoulder all the burdens by itself.

To increase the tax revenue collection, taxes on alcoholic beverage products could be raised, he added.

"If the government stays passive, two to three million people could be out of jobs and they could create social problems. Last quarter, the economy shrank four per cent, and if the government is not doing anything this year, it could plunge nine per cent," said the prime minister.

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Don Aleman

Discussion 4 : 30/03/2009 at 01:21 AM4
Chapter 3

Ban alcohol on Songkran &

Raise the tax on alcohol ?

Maybe submarines are the best answer after all !
sad

Discussion 3 : 29/03/2009 at 08:36 PM3
"If the government stays passive, two to three million people could be out of jobs" , that means,
that they have to invest, problem is, that with every investment, a percentage of the money to spent, goes to those corrupt government officials own pockets or bank accounts ! The rich are getting richer and the poor are getting poorer !
Paul

Discussion 2 : 29/03/2009 at 08:08 PM2
Typical Democrat tax and spend just like Obama. Who is going to pay for your ridiculous and unnecessary loans?
David Brown

Discussion 1 : 29/03/2009 at 02:20 PM1
take some money from the defence budget

who needs fighter jets and a submarine when people are losing jobs?

oh, I forget, the government is run by the military and they need to protect their wealth and power from the ordinary Thai people....

the Thai military protecting itself from the people?
or
the military protecting the King from the Thai people?

ask Prem, he is the one that spreads the second story to cover for the first....

PM: More loans needed for economy