B2 trillion loan bill approved by cabinet, to go to House of Representatives

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Cabinet approves B2 trillion loan bill

Published: 19 Mar 2013 at 15.27
Online news: Local News

The cabinet on Tuesday approved the draft two-trillion-baht infrastructure development loan bill, Finance Minister Kittiratt Na-Ranong said after the meeting.

The loan bill is expected to be forwarded to the House of Representatives for consideration next week.

The bill empowers the Ministry of Finance to gradually acquire loans to fund the government's planned infrastructure development investment megaprojects over the next seven years, Mr Kittiratt said.

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musashi
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Discussion 21 : 20 Mar 2013 at 02.5121
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brilliant #18: Hopefully you will still be laughing when you refer to: http://www.bangkokpost.com/news/local/334615/abhisit-to-be-questioned-by-dsi

In response to your confusion about finance, I said (#25):"you classified liability (balance sheet item) as a loss (P&L item)? And you defined the rice inventory (current asset) as a liability?

Are you confused or trying to invent your own accounting system?"
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brilliant
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Discussion 20 : 20 Mar 2013 at 02.0020
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There's a good source of a loan in Dubai. if he's got anything left after funding the protests in 2010 that is.

musashi - "The recklessness, lack of transparency and accountability of the elected PT government is yet to be proven."

I think the rice "scheme" did any admirable job of disproving your statement. And it that doesn't work, try the 350 billion baht for the flood mitigation "scheme" that has not been spent and is basically unaccounted for. But weren't you the guy that said the rice "scheme" wasn't a loss? Got it.
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facts_only
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Discussion 19 : 20 Mar 2013 at 01.1519
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"Mr Korn said it is unnecessary for the government to acquire the loans. It could fund the projects via the annual budget system...At present, public debt is about 43% of GDP." - above article

"Thailand, with public debt of 43% of GDP, still has room [to spend]. We expect to return to a balanced budget position within five years. But the big problem for budgetary management is the fact that our current expenditures are high, with little left for investment if we run a balanced budget...We are speaking about basic infrastructure that will help strengthen the country's competitiveness." - Korn, 26 Oct 2010
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brilliant
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Discussion 18 : 20 Mar 2013 at 01.1318
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"The bill empowers the Ministry of Finance to gradually acquire loans to fund the government's planned infrastructure development investment megaprojects over the next seven years, Mr Kittiratt said."

There's a great source for funding in Dubai. Why doesn't PTP use it?

Mushashi - please look at the spending of other countries during 2009 and 2010. Compared to most, Thailand spent a small amount and suffered far less than most countries during a global recession. But of course, you're the guy that keeps saying the rice scheme isn't a loss and may actually be a profit someday. LOL
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bikeme
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Discussion 17 : 19 Mar 2013 at 22.4417
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D14 - The high point was 47.6% during 2004/2005 under your beloved Thaksin. The lowest was under the junta at 37.9%. Abhisit hit 44.9% in 2009, at the peak of the global recession, but each subsequent year the percentage went down. 2011 was mostly under the DEMs rule, so don't pat the PTP on the back. They can claim 2012, but are intent on reversing the trend with trillions in new loans.
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highlander
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Discussion 16 : 19 Mar 2013 at 22.4216
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No financial bills involving tax payers money including revenues gained from other resources such as tourism, and other government taxes imposed on companies should be passed by parliament without proper due process. This means proposals must be broken down for transparency to show the proposed cost of projects. These projects need to be addressed one by one and then be subjected to detailed cost analysis to ensure cost proposals are soundly based. Meaning realistically based and not just numbers PTP pull from their hat. Then there needs to be public tender processes closely watched and monitored to select contractors who meet all criteria
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howell
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Discussion 15 : 19 Mar 2013 at 22.2315
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How can anyone trust or believe a single word from this Thaksin/PTP government ? Just look the mess their rice scheme is !
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musashi
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Discussion 14 : 19 Mar 2013 at 22.0714
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bikeme #11: Thai government debt to GDP (%):

2010 (Dem): 45.2% (AV's term)
2011 (PTP): 42.6%
2010 (PTP): 41.7%

Will you now say that PTP is more capable?

Japan and Singapore have debt to GDP exceeding 100%. UK and USA have debt to GDP double that of Thailand. Will you say that these economies are in worse shape than Thailand?

Your simplistic view of economics is just what the Dems need to fool their dwindling supporters.
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ringmaster
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Discussion 13 : 19 Mar 2013 at 21.4913
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Based upon the state of the economy when Korn was Finance Minister, why should we believe him now?
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cinbkk
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Discussion 12 : 19 Mar 2013 at 21.4112
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Corruption aside, Thailand has fairly low unemployment, so I wonder who will fill these 500,000 new jobs. maybe it will be the people who have lost their jobs as a result of the 300B minimum wage policy; or migrants from other ASEAN countries.
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B2 trillion loan bill approved by cabinet, to go to House of Representatives | Bangkok Post: news

Cabinet approves B2 trillion loan bill

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