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BANGKOK 20 May 2019 05:36
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rooster59

DPM accelerates spending of investment capital

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DPM accelerates spending of investment capital

tewit kemtong

 

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BANGKOK, 17 May 2019 (NNT) - Deputy Prime Minister Somkid Jatusripitak has accelerated the spending of investment capital of five state firms while the national economy has slowed down, adversely affecting export sector.

 

The deputy premier and Finance Minister Aphisak Tantiworawong held a meeting with executive officials of 19 state firms with huge amounts of investment capital and relevant agencies to accelerate and increase the spending of the respective investment capital during the second and third quarters of this year. In particular, the highly potential state firms have been instructed to help bolster the national economy which may have been affected by domestic and external factors as well as those which have planned to invest on business development projects to upgrade the country’s competitiveness.

 

The finance minister said a decline in export sector due to the world’s economic recession has prompted the state firms which have a combined 330 billion baht in investment capital to spend more on their respective economic bolstering projects. So far, only about 80 billion baht has been reimbursed while more is to follow in May and June.

 

Given a fundamental strength, Thailand’s Gross Domestic Product is projected to rise 3.8% this year which remains in the range of a 3-4% growth earlier forecast. However, five state firms have spent less than earlier planned.

 

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-- © Copyright nnt 2019-05-18

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They need to back off now and stop. It is not their responsibility to spend the next governments money as they are on the way out,. This is a crime in itself. FFP says they have  plan for  a coalition government. Hope it works so they can reverse all of Somkid and the Junta's spending spree.. 

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1 hour ago, rooster59 said:

The finance minister said a decline in export sector due to the world’s economic recession has prompted the state firms which have a combined 330 billion baht in investment capital to spend more on their respective economic bolstering projects. So far, only about 80 billion baht has been reimbursed while more is to follow in May and June.

 Can only think of 2 reasons why they have not spend the approved capital. Either they are incompetent to identify good returns investments or the kick-back amount not to their liking. 

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5 hours ago, holy cow cm said:

They need to back off now and stop. It is not their responsibility to spend the next governments money as they are on the way out,. This is a crime in itself. FFP says they have  plan for  a coalition government. Hope it works so they can reverse all of Somkid and the Junta's spending spree.. 

They should be in caretaker mode as in most countries...and of course, the junta still has the keys to the treasury!

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5 hours ago, holy cow cm said:

They need to back off now and stop. It is not their responsibility to spend the next governments money as they are on the way out,. This is a crime in itself. FFP says they have  plan for  a coalition government. Hope it works so they can reverse all of Somkid and the Junta's spending spree.. 

If the spending is attached to the NCPO's 20-year National Strategy Program, it's protected from change by the constitution and NCPO's Senate. So it becomes a legal crime.

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