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Trillion baht loan not needed had there not been a COVID-19 pandemic – PM

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Trillion baht loan not needed had there not been a COVID-19 pandemic – PM

 

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Thailand’s Prime Minister, Prayut Chan-o-cha, responded to Opposition claims today that his government has mismanaged the country’s economy, to the extent that it now must borrow 1.9 trillion baht, approximately US$9.8 billion, to cushion the economic impacts of the COVID-19 pandemic.

 

Responding to the criticism in Parliament, the Prime Minister clarified that only one trillion baht is to be borrowed by the Finance Ministry, and the remaining 900 billion baht are Bank of Thailand reserves, adding that the Government would not need to borrow so much if the global pandemic had not hit so hard.

 

He said that, for the past five years, the Government has been working hard to improve the country’s economy, which had already been impacted by a trade war between the United States and China before COVID-19 emerged.

 

Full story: https://www.thaipbsworld.com/trillion-baht-loan-not-needed-had-there-not-been-a-covid-19-pandemic-pm/

 

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-- © Copyright Thai PBS 2020-05-31
 
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11 minutes ago, rooster59 said:

adding that the Government would not need to borrow so much if the global pandemic had not hit so hard.

excuse after excuse ; and that guy is SO Bright !

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59 minutes ago, rooster59 said:

the Government has been working hard to improve the country’s economy, which had already been impacted by a trade war between the United States and China

 

And I thought the trade war was a positive for Thailand, because now everybody wanted to do business with Thailand instead of China, and manufacturers were moving amass from China to Thailand.

 

1 hour ago, rooster59 said:

adding that the Government would not need to borrow so much if the global pandemic had not hit so hard.

 

Yes I agree, 3000 infections and 57 deaths out of a 70 Million population, isn't nothing if you compare that to what happened in the rest of the world.

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4 minutes ago, madmitch said:

The "trade war" betwen the USA and China is often quoted as a reason for the Thai economy contracting. I've never worked out why. Are there any economists out there that can explain this?

I would suggest that the US/China trading tariffs uncertainty is the driver of dips in the economy, as imported goods to Thailand from these countries could have a higher tariff rate imposed. 

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57 death people is a pandemic ?

 

you and your fake puppet experts crashed the economy for a 0.2 percent death rate among SICK people

 

let's wait for the 2nd wave, 3rd... let's lockdown for ever and be scared of other people

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The PM isn't fit for the post of PM to use inane excuses to wheedle his way out of any government criticism- as is Boris Johnson and Trump's mismanagement of the Covis 19 virus. 

 

Borrowing US$9.8 billion is peanuts on the global stage. UK borrowed £62 billion (US$76.5 billion) in April 2020.

 

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First, 1.9 trillion baht is not 9.8 billion dollars, even approximately, but closer to 60 billion dollars!

 

This is a huge amount of money for Thailand, and it is incredible that there is not even a draft explaining where all this money is supposed to go.

 

Maybe they plan to build a beautiful wall along the Thai coastline, to keep the second wave from infecting the country...

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4 hours ago, rooster59 said:

Thailand’s Prime Minister, Prayut Chan-o-cha, responded to Opposition claims today that his government has mismanaged the country’s economy, to the extent that it now must borrow 1.9 trillion baht, approximately US$9.8 billion, to cushion the economic impacts of the COVID-19 pandemic.

Or put another way 1,900,000,000,000 baht borrowed for two days of road deaths

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