Connect with us

Economy

PM assures MPs that government knows how to handle trillion baht loan

Maya Taylor

Published

 on 

PHOTO: www.physiciansweekly.com

“Don’t worry, we got this…”

Following the Finance Ministry’s securing of a trillion baht loan, PM Prayut Chan-o-cha spoke up to address concerns over how the funds will be administered. Answering questions raised by opposition parties, the PM said the government has clear rules in place on how the funds will be distributed, with the priority being small and medium sized businesses that have been severely impacted by the Covid-19 crisis.

He was speaking as Parliament debated the 3 decrees enacted in the wake of the pandemic, the first of which was to allow for the borrowing of a trillion baht. The PM promises full transparency in how the funds are used, saying the loan has been taken out to prevent small businesses from going bust, which would lead to a further significant rise in unemployment.

A second decree is in place to enable small businesses and start-ups to take advantage of soft loans to survive the huge toll the virus has taken on the economy. Thai PBS World reports the Finance Minister as saying such businesses will receive help with their applications if they are unaccustomed to securing credit from banks.

While the first decree enabled the government to secure a trillion baht loan, the Bank of Thailand says neither the soft loan decree nor an additional bond stabilisation decree will mean more debt for the country. Rather the central bank’s existing funds will be used to help the bond market and to give businesses the lifeline they need in the current exceptional circumstances.

SOURCE: Thai PBS World

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

A seasoned writer, with a degree in Creative Writing. Over ten years' experience in producing blog and magazine articles, news reports and website content.

Follow Thaiger by email:

Thailand2 hours ago

Thailand conservation adds 17 rare Indochinese tigers this year

Pattaya3 hours ago

Man falls off 4th story roof only breaking arm and chin

Thailand8 hours ago

Family finds long lost man after he is rescued from 17 metre well

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Coronavirus (Covid-19)10 hours ago

16 new dark red provinces and restrictions extended to Aug 16

Hua Hin11 hours ago

Hua Hin Maya Club execs get 3 months for superspreader event

Myanmar12 hours ago

Thai candidate selected as ASEAN envoy to Myanmar

image
Join the conversation on the Thaiger Talk forums today!
Coronavirus (Covid-19)13 hours ago

Foreigners able to register on vaccine site despite data leaks, glitches

Thailand14 hours ago

Covid UPDATE: 18,027 infections, provincial totals

Thailand23 hours ago

Covid UPDATE Sunday: 18,027 infections, expat vaccine registration

Transport1 day ago

August flight plans: Bangkok Airways, Nok Air, Thai Lion

Coronavirus (Covid-19)1 day ago

New site for foreigner vaccine; Mor Prom deletes appointments

Politics1 day ago

Facebook fake news post suggesting a coup faces prosecution

Koh Samui1 day ago

UPDATED: Samui Covid-19: 14 new Black Club infections, 2nd small cluster

Thailand2 days ago

40,000 cases a day could happen by September, says projection

Phuket2 days ago

Phuket Sandbox Covid-19 infections: 35 today, 209 this week

Thailand5 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism5 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket5 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism5 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand5 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism5 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand6 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand6 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand7 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand7 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand7 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand7 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand7 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand7 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand7 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending