Loans for Investment in Infrastructure Development Megaprojects

Opposition leader Abhisit Vejjajiva attacked the government, saying the borrowing bill was unnecessary because the Thai government could work out deficit budgets to sufficiently fund the projects and should not risk breaching the nation’s public debt ceiling.

Prime Minister Yingluck Shinawatra told the House that infrastructure development, especially transport projects, under the budget will increase competitiveness for the country and boost economic growth.

The investment in the next seven years will increase the gross domestic product by 1% and create 500,000 jobs yearly.

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said benefits from the investment will outweigh the borrowing and last for a century. The government had already clarified the need for the loans and the government’s planned infrastructure overhaul at an exposition held at the Chaeng Wattana government complex recently.

The government would put its utmost effort into the betterment of the country.

The Prime Minister had confidence that the loan bill would be approved by the parliament.

 

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