Shouldering the burden : Some companies agree with a government scheme to partially subsidise salaries, but they wonder if the budget is adequate. With no end in sight to the economic downturn caused by the Covid-19 pandemic, the government aims to put much of its aid effort towards fiscal stimulus to prop up the economy, though there are unfavourable consequences to this move. Bangkok Post
FPO: Q3 looking less dire as ‘swoosh-shaped’ bounce looms : Thailand’s third-quarter economic outlook has better prospects than in the previous quarter after improved economic indicators in July, says the Fiscal Policy Office (FPO). Bangkok Post
PM agrees to bail out 7 airlines : B24bn govt splurge on budget carriers. The government has promised to inject 24 billion baht in soft loans to help bail out seven domestic low-cost airlines, while demanding in return that the airlines retain their 20,000 staff throughout the Covid-19 crisis. Bangkok Post
Charter rejig gains pace : Panel gives speaker list of proposals. The constitution amendment movement is picking up steam with the House committee responsible handing in its report, included in which is the suggestion to switch to the electrical system employed by the 1997 charter and the requirement that the prime minister must be an MP. Bangkok Post
Purchase of two subs delayed, not ditched: Prayut : The navy has deferred its planned purchase of a second and a third Chinesemade submarines worth 22.5 billion baht amid mounting political pressure but the deal will not be scrapped, Prime Minister Prayut Chan-o-cha said yesterday. Bangkok Post
Predee bombshell hits baht trading : Shock resignation scares buyers away. The baht experienced a sudden depreciation against the US dollar yesterday after Finance Minister Predee Daochai submitted his resignation less than a month into his tenure. Bangkok Post
Budget funds requested for Akara case : The Industry Ministry says Thailand needs a budget to finance its legal fight with an Australian gold mining company after a House committee vetting the budget bill in fiscal 2021 slashed its 111-million-baht request. Bangkok Post
Agency to vet short-term measures for rest of 2020 : Fresh short-term measures to stimulate the economy in the remaining months of the year are set to go before the Centre for Economic Situation Administration for vetting today. Bangkok Post
BoT adds debt restructure option : The Bank of Thailand is allowing unsecured loan borrowers to use collateral stemming from mortgage loans for debt restructuring through debt consolidation, with lower interest rates charged. Bangkok Post
Govt plans cash handout : B45bn economic stimulus for millions of Thais. The government plans to spend 45 billion baht on 3,000-baht cash handouts to 15 million people affected by the economic fallout caused by Covid-19, which is expected to inject a cash flow of about 90 billion baht in the economy and boost domestic consumption. Bangkok Post
We say borrowing from Peter to give to Paul as somewhere down the track the people making these decisions are no longer around and so not responsible = it becomes someone else’s black hole
kelvin bamfield
We say borrowing from Peter to give to Paul as somewhere down the track the people making these decisions are no longer around and so not responsible = it becomes someone else’s black hole