Commentary: Umesh Pandey
Lawmakers in Thailand last week debated until they were hoarse about the government’s much-anticipated 2-trillion-baht infrastructure spending spree, now officially known as “Thailand 2020”.
The opposition also likes the megaprojects in principle but warns they would cost the country 5 trillion baht. That’s 2 trillion in borrowing and another 3 trillion in interest payments over a repayment term of 50 years — more than 12 prime ministerial terms. Yes, the numbers seem scary but let’s look at the issues before we jump to conclusions.
Thailand has had a good run in the past few decades. Despite all the political upheaval, the country’s economic growth never ground to a halt, thanks in large part to the great infrastructure the country had in the past.
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