Blessings in disguise?
Rice scheme may be storing up trouble
- Published: 2 Jan 2013 at 00.00
- Newspaper section: Business
The government's plan to continue the rice pledging scheme for another year is good news for farmers, but the issue worries economists.
Farmers will obtain the same prices for the first round _ 15,000 and 20,000 baht per tonne _ when pledging white rice and fragrant Hom Mali rice to millers that have joined the scheme.
Critics say big losses from the rice scheme could cause public debt to rise sharply in 2013 to as much as 50% of gross domestic product (GDP) from 40.22% posted as of Sept 30, the end of the fiscal year.
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