Rehabilitation to cost B755bn

Business > Economics

ECONOMY

National priorities 'may need adjusting'

Published: 29/11/2011 at 08:17 AM
Newspaper section: Business

A new World Bank report estimates public spending on post-flood rehabilitation in Thailand could reach 235 billion baht by 2014, but experts say this would still not exceed the country's public debt ceiling.

"The government can accommodate this flood-related damage and loss with the existing public debt ceiling. Whether it decides to raise funds from foreign or domestic organisations is up to the discretion of the government, but scope remains for borrowing," Kirida Bhaopichitr, a senior economist at the bank, said of the preliminary assessment of post-flood recovery rehabilitation.

Thailand's public debt now stands at 40.2% of gross domestic product (GDP), while the debt ceiling stands at 60% or 600 billion baht.

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johninbkk
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Discussion 8 : 29/11/2011 at 06:50 PM8
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dao D7 - Actually, it was AV that brought the national debt so high. Plot the national debt to each year to see the truth. PTP is simply stuck with the huge debt that AV accumulated by doubling the military budget and all of his populist/mega-project policies.
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dao
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Discussion 7 : 29/11/2011 at 11:32 AM7
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3 months in power and PT needs the foreign reserve and the world bank is talking debt ceilings .That must be a world record for bankrupting a country .Nice work PT . Something to be proud of .You really help the country a lot ...
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wangsuda
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Discussion 6 : 29/11/2011 at 10:17 AM6
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Discussion 3: The thai government (ANY Thai government) will only support itself. None of them care for the population (who is only seen as a cash cow).
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Victor
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Discussion 5 : 29/11/2011 at 09:15 AM5
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I bet they forgot to include the cost of having to remove all those sand left or swept into the drains during the cleaning ups.
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banmebkk
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Discussion 4 : 29/11/2011 at 09:13 AM4
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Whats best for the country is not the PTP's populist policy. Giving Grade 1 students pc tablets, giving farmers credit cards, building more red villages that just divides the society further apart by instantly giving benefits to red supporters. A government leader should not be building and supporting such outright division in a group - if they want to build villages, they should do it for the good of the society - not political group, and not as a propaganda tool. PTP's populist policy only benefits their supporters and put the country in more debt.
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saltation
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Discussion 3 : 29/11/2011 at 08:59 AM3
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Given these numbers, there is no reason the government can not also allocate 200 billion or so to pay realistic compensation to those families it injured by building the big bag barrier dam and flooding their houses to save the inner city.

Since we can easily recover from 755 billion, it stands to reason we can also recover from 955 billion with out excessive difficulty. And we can show everyone that the Thai government now believes in justice for those it abused rather than oppression.
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Kanadian
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Discussion 2 : 29/11/2011 at 07:42 AM2
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WoW ! This is what happens when preventive measures are not taken..
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wangsuda
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Discussion 1 : 29/11/2011 at 07:26 AM1
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" However, implementation may involve some reprioritisation as to what would be best for the country's recovery," said Annette Dixon, the World Bank's country director for Cambodia, Laos, Malaysia, Thailand and Burma." The de-facto PM will never agree to this. The populist policies put money into his and his cronies pockets. Can't stop the flow of money now, can we?
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Rehabilitation to cost B755bn | Bangkok Post: business