webfact Posted September 24, 2019 Share Posted September 24, 2019 Cabinet okays Bt894 bn worth of public debt for 2020 By The Nation The Cabinet on Tuesday (September 24) approved a planned public debt worth Bt894 billion for fiscal 2020, with the largest sums being injected into the State Railway of Thailand, which will be getting Bt65 billion, and Bt56.8 billion earmarked for cash-strapped Thai Airways International. Ratchada Thanadirek, deputy government spokesperson, said the Cabinet also approved plans for the management of existing debts worth Bt831.2 billion and debt-repayment plan of Bt398.4 billion. The plans were proposed by Finance Minister Uttama Savanayana. The new public debt will help push the public debt to gross domestic product ratio slightly up to 42.76 per cent from 41.45 per cent in fiscal 2019. Debt to revenue ratio is projected to be 18.48 per cent, well below the limited target of 35 per cent. Meanwhile, foreign debt is 2.86 per cent of total debt, well below the limited target of 10 per cent thanks to prudent management. As of July, public debt was worth Bt6.9 trillion or 41.45 per cent of the GDP. Of the new debts, Bt748.88 billion will be owed by the government, while state enterprises will owe a total of Bt145.1 billion. The government has had to borrow to boost its liquidity and finance its economic stimulus packages as well as cover investment in infrastructure. The government will borrow Bt570 billion domestically to finance budget deficits in fiscal 2020 and will borrow foreign funds equivalent to Bt3.5 billion to finance development projects. In order to help state enterprises get cheap funding, the government will lend money it has borrowed to key state agencies. For instance, the State Railway of Thailand will get loans from the government to finance its nine investment projects worth Bt65 billion, while the Mass Rapid Transit Authority of Thailand will get loans worth Bt20 billion from the government to finance its mass-transit projects in Bangkok. Of the 13 state enterprises that will borrow a combined Bt145.1 billion, Thai Airways is taking a large chunk of Bt56.8 billion to purchase new airplanes and to boost its liquidity, while the Provincial Electricity Authority is borrowing Bt20 billion to finance its investments, the National Housing Authority is taking Bt4 billion and the Provincial Waterworks Authority Bt6 billion. The Bt3.2-trillion budget bill for fiscal 2020 is scheduled to be deliberated in Parliament on October 17 for the first reading, with the second and third readings are scheduled to be held between January 18 and 29. The funds are expected to be disbursed in late January. In Thailand, the fiscal year usually starts in October. Source: https://www.nationthailand.com/business/30376678 -- © Copyright The Nation Thailand 2019-09-25 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
leeneeds Posted September 24, 2019 Share Posted September 24, 2019 I get lost in all the zeros attached to the borrowings, all I do get is that you borrow, you have to pay back, and it is not a friends loan without interest. Thai Airways I fly with them 99% of the time, how they manage their up grades to ensure the hook is baited to keep repeat customers does need some work. Link to comment Share on other sites More sharing options...
jerojero Posted September 24, 2019 Share Posted September 24, 2019 Cash strapped Thai Air...fancy words meaning perpetually unprofitable entity and tax-payer subsidized forever, because of incompetent Executives. And they still get gigantic annual bonuses I'm sure! Link to comment Share on other sites More sharing options...
PatOngo Posted September 24, 2019 Share Posted September 24, 2019 1 hour ago, webfact said: Thai Airways is taking a large chunk of Bt56.8 billion to purchase new airplanes and to boost its liquidity, ???? Smooth As Silk! Link to comment Share on other sites More sharing options...
cornishcarlos Posted September 24, 2019 Share Posted September 24, 2019 That's the trough topped up by 894 Bn for all the hungry little piggies ???? Trains will still be late Thai will still be <deleted> PEA will still have power outages But the piggies will get fat.... Link to comment Share on other sites More sharing options...
legend49 Posted September 24, 2019 Share Posted September 24, 2019 Sell Thai airways IF you can find a gullible buyer. Of the new debts, Bt748.88 billion will be owed by the government ; there is no breakdown on expenditure???????? Link to comment Share on other sites More sharing options...
Henryford Posted September 25, 2019 Share Posted September 25, 2019 4 hours ago, jerojero said: Cash strapped Thai Air...fancy words meaning perpetually unprofitable entity and tax-payer subsidized forever, because of incompetent Executives. And they still get gigantic annual bonuses I'm sure! What they really mean is so that VIPs and Government employees can get free upgrades to Business Class. Link to comment Share on other sites More sharing options...
RichardColeman Posted September 25, 2019 Share Posted September 25, 2019 4 hours ago, webfact said: In order to help state enterprises get cheap funding, the government will lend money it has borrowed to key state agencies. Sounds like flushing the envelopes down the line to me Link to comment Share on other sites More sharing options...
yellowboat Posted September 25, 2019 Share Posted September 25, 2019 1 hour ago, legend49 said: Sell Thai airways IF you can find a gullible buyer. Of the new debts, Bt748.88 billion will be owed by the government ; there is no breakdown on expenditure???????? It is sort of a play thing for the rich of Thailand. There was an article a year ago or so talking about rich people not having to pay for fuel or maintenance for their private planes I believe. ThaiAir is play thing for the elite and on the side they the national carrier. The privilege get to play and the average Thai gets to pay. Sure glad Thaksin is gone. Things are so much better now. ???? Link to comment Share on other sites More sharing options...
hotchilli Posted September 25, 2019 Share Posted September 25, 2019 5 hours ago, leeneeds said: Thai Airways I fly with them 99% of the time, how they manage their up grades to ensure the hook is baited to keep repeat customers does need some work. Bt5.6 billion bailout by the government.... that's how it works Link to comment Share on other sites More sharing options...
elgenon Posted September 25, 2019 Share Posted September 25, 2019 I just hope the Thais don't become beholding to the Chinese and lose some sovereignty as many countries seem to be doing. Link to comment Share on other sites More sharing options...
Libai Posted September 25, 2019 Share Posted September 25, 2019 Err! How much for education? Link to comment Share on other sites More sharing options...
worgeordie Posted September 25, 2019 Share Posted September 25, 2019 Remember that song from long ago, "another day older and deeper in debt" still has relevance today,maybe even more so. regards worgeordie Link to comment Share on other sites More sharing options...
Airalee Posted September 25, 2019 Share Posted September 25, 2019 Hopefully they’ll throw enough money at Thai Airways so they can regain approval to fly to the US again and subsequently re-introduce the nonstop LAX-BKK flight with fares that compete with the Chinese carriers. ???? Link to comment Share on other sites More sharing options...
Phulublub Posted September 25, 2019 Share Posted September 25, 2019 7 hours ago, cornishcarlos said: That's the trough topped up by 894 Bn for all the hungry little piggies ???? Trains will still be late Thai will still be <deleted> PEA will still have power outages But the piggies will get fat.... Of course, there is no corruption in the UK. And the trains ALL run on time. And we don't EVER have power outages. Still, bash those Thai's - they are, after all, a First World Country unlike UK. And can anyone remind me just how much the US deficit is now? P Link to comment Share on other sites More sharing options...
cornishcarlos Posted September 25, 2019 Share Posted September 25, 2019 Just now, Phulublub said: Of course, there is no corruption in the UK. And the trains ALL run on time. And we don't EVER have power outages. Still, bash those Thai's - they are, after all, a First World Country unlike UK. And can anyone remind me just how much the US deficit is now? P Sorry, I thought this was an article about Thailand !! Link to comment Share on other sites More sharing options...
Jorgendk Posted September 25, 2019 Share Posted September 25, 2019 4 hours ago, Libai said: Err! How much for education? Come on now,.. A government like this do not want well educated studens. Studens that don't know much, and only learn to do as the teachers say without questions, are much easier to control. Link to comment Share on other sites More sharing options...
hotchilli Posted September 25, 2019 Share Posted September 25, 2019 4 hours ago, Libai said: Err! How much for education? Zero.... the last thing this government wants is the masses educated ! Link to comment Share on other sites More sharing options...
Cake Monster Posted September 25, 2019 Share Posted September 25, 2019 9 hours ago, cornishcarlos said: That's the trough topped up by 894 Bn for all the hungry little piggies ???? Trains will still be late Thai will still be <deleted> PEA will still have power outages But the piggies will get fat.... Didnt you mean to say fatter Link to comment Share on other sites More sharing options...
Grumpy John Posted September 25, 2019 Share Posted September 25, 2019 I find all this negativity regarding the fine way our esteemed leader is conducting the business of government to be very very disturbing........but don't let that stop you as I am an advocate of free speech, even if you have it all wrong! ???? Link to comment Share on other sites More sharing options...
jerojero Posted September 25, 2019 Share Posted September 25, 2019 Ok. Not quit a trillion, so more military boats, planes, subs, troop carriers, tanks please... and throw in some drones for good measure. Somebody will pay for all this and the soaring debt, but that is in future so who cares. Link to comment Share on other sites More sharing options...
justin case Posted September 26, 2019 Share Posted September 26, 2019 so much money in thai airways, but they don't want a farang manager to clean up the <deleted> how is this possible ? thai pride , xenophobia, stubborness Link to comment Share on other sites More sharing options...
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