Most of the money needed for the government's infrastructure megaprojects will be borrowed locally, Finance Minister Kittiratt Na-Ranong reiterated on Saturday.
The cabinet on Tuesday approved a draft bill for the two trillion baht worth of infrastructure developments, and it is expected to be forwarded to the House of Representatives for consideration this week.
The loans would be acquired gradually between now and the end of 2020 in order to minimise impact on public debt, Mr Kittiratt said on the "Yingluck Government Meets the People" weekly programme on NBT.
Sufficient financial liquidity now existed in Thailand to fund the infrastructure overhaul planned over the next seven years, he said. Therefore, local loans would be the main source of funding, with small amounts of foreign loans sought only when necessary, he said.
Mr Kittiratt insisted that despite the heacy borrowing, the public debt would be kept below 50% of gross domestic product, compared with 45% now, and well below the ceiling at 60% set under the law.
The debt repayment timeframe for all loans would be 50 years, he added.
Share this article
About the author
Writer: Online ReportersPosition: Online Reporters
Bangkok Post online classifieds
Try buying selling goods and properties 24/7 in our classifieds which has high purchasing power local expatriate audience from within Thailand and around the world.
Article source: http://www.thethailandlinks.com/2013/03/24/kittiratt-local-loans-for-megaprojects/
0 comments:
Post a Comment