Loan bill to be proposed before April

The government will propose its draft two trillion baht loan acquiring bill to parliament for consideration within this month, Finance Minister Kittiratt Na-Ranong said on Saturday.

  • Published: 2/03/2013 at 10:57 AM
  • Newspaper section: breakingnews

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong (File Photo)

On the “Yingluck Government Meets the People” weekly programme on NBT, Mr Kittiratt said the loan will be for financing the government’s infrastructure development megaprojects, particularly the development of transportation and logistics systems, over the next seven and a half years.

The government will focus on the development of highways, waterways and rail transport systems to cut logistics cost and to mobilise the economy, he added.

Mr Kittiratt, also the deputy premier, said the draft loan bill will be soon propose to the cabinet meeting for approval before forwarding to parliament for consideration later this month, before the end of this House meeting session.

The minister insisted that the planned 2 trillion baht investment fund is worthwhile and in line with financial disciplinary principles, he said.

The loan will be acquired mainly from domestic financial institutions. The private sector will be allow to co-invest in these development projects with the government to reduce the need for loans of the government, he added.

"The public debt ceiling is set at 60% of gross domestic product. Now the public debt figure stands at 43% of GDP, which is relatively low and there is room for the government to seek loan for the development of the country," Mr Kittiratt said.

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