Big Tu orders the real story of the Thai era Lean to borrow less money than the previous government

February 21, 2021 at 12:39

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Big Tu orders the real story of the Thai era Lean to borrow less money than the previous government And high household debt since entering the country

Mr. Supatthanaphong Phanmechaow, Deputy Prime Minister Energy Minister posted on Facebook to clarify 8 facts about the Thai economy that

“It’s over for a debate at the Parliament in a motion not to trust the Prime Minister. And 5 other ministers, which I have prepared to clarify questions and allegations of the opposition party On the administration of the government’s economy But had no opportunity to speak in the council Due to not enough time So I would like to summarize the important information which is another aspect that will make the government look at the management of the economy And facts of the current economic situation in Thailand That it was not as bad as what was discussed in the House of Commons

1. The recovery of the Thai economy after COVID-19

Since the outbreak of COVID-19 Many panelists say that Thailand is the worst in decades. The past year was one of the worst years for all countries. Thailand’s lowest point was in April last year after the government gradually Relax measures All scorecards improved accordingly. Until December, there was a new wave of outbreaks. Some indices are even better than Apr. We have experience and data from the first outbreak. So there is no need to lock down But tight control in some provinces Economic figures are declining. But positive signs appeared in the fourth quarter with a higher growth rate. Both consumption Private investment Including state investment and consumption

Data of the NESDB in the year 20 we lost 6.1%, but if following the data since the beginning of the year Many institutions think that Thailand will drop 10%, some 8.5%, but Thailand we can cooperate and control. Considered not much trauma When compared with other countries in the same region No one does not delete But the lowest is the Philippines. Only Vietnam is a very young country. But is growing much less than the previous rate Last year, we were not the worst in Thailand. We are clustered in most of the countries in this region.

2. unemployment

Many panelists say 10 million people are unemployed, but this is likely to be estimates since the outbreak. Because he did not know that an outbreak like this How much will it affect the unemployment? It would probably look at the worst case of 10 million people, but the actual figure that appears is 1.9% while other countries. In ASEAN is higher than this Shows the trauma that is around the world But in Thailand we are doing well.

3. Trust in the international eye

Three credit rating agencies – Moody’s Fitch Rating and Standard and Purs – rated Thailand the same. While many countries were downgraded. For confidence in the management of Thailand in the past Whether it is economic matters or epidemic control Appear in various rankings Or international recognition Most recently, we are ranked 1 in 4 countries to control COVID-19 outbreaks. Best in the world While financial strength ranks among the top Of emerging countries that are most likely to invest This is an assessment from January this past.

4. Is the very government really borrowing?

By the year 20, our public debt is 52% of GDP, the round figure of public debt is 8.1 trillion baht. Take on new positions Public debt was 5.5 trillion baht, an increase of 2.6 trillion baht, but when compared with the previous government. Which is in the position of 2 years 8 months. His debt increased 1.3 trillion baht. Government of General Prayut was 6 years and 9 months. But the Government of General Prayut still borrows less. These loans have been used for investment in 162 major projects from 2016 to 63, most of which are transportation, utilities and energy. This is the foundation for Thailand to grow in the future. And is a loan that is not overloaded by the previous government

5. This government made household debt the highest.

This government is not the government that brings the highest household debt. Because it has been high since 10 years ago And keep getting high When the Prime Minister Come in mid-2014, we have about 80% of our household debt. One year dropped to over 70% when the crisis hit. GDP dropped from 80% trying to maintain it to 86%. We tried to manage it into quality debt, about 65% of household debt was owed for housing. Used to operate a business to buy vehicles, the rest is a matter of consumption Which in the third quarter of the past year At the time of COVID-19, we had only 3% of bad household debt in the banking system, within the average of bad debt in the banking system.

6.Will the bank fail?

The strength of financial institutions looks at the capital that is sufficient for the loans released. Which today is 20% higher than the minimum rate set by the BOT is about 11%, which is about 2 times higher than the NPL or 3.1% bad debt in the system. falling Let’s go see the Tom Yam Kung crisis. At that time, the financial institution’s capital was only 9.5%, which is more than half lower than today. Must be considered a very strong financial institution Loans have also grown in recent years. Profit is still available Financial institutions have the strength to take care of debtors.

7.Business inundated debt that had to close the most business

Today, 21 financial institutions have restructured the amount that the debtor can continue to operate and by the year 63 there are 63,340 new establishments, the Czechs rebound 23% less. steam More than 62 years have requested for matters that say that the public debt is flooded and cannot stay. In the past, we gave 50,000 million baht as a low interest loan. Millions of people received interest and moratorium assistance through the end of the year, remedial measures cover 42.3 million people, and the government has taken measures to cut water, electricity and social security contributions. Ready to add liquidity Low-interest loans for 200,000 baht or more.

Before the new wave of COVID-19 in December, the Cabinet approved assistance through the TCG guarantees for troubled businesses. Especially that is SMEs in the amount of 1 hundred and 50 billion baht, the micro-SME group is another 25 billion baht. In addition, the default interest charge, the BOT, adjusts the default interest charge to Normal interest rate And charge the default interest according to the amount of default Here is a relief. Reduce the financial cost will be effective from April ’64.

8. Thailand is not the most overlapping

People say that Thailand is the most inequitable in the world. That’s just one dimension Is wealth If it is good, you must look at all dimensions, you must look at the opportunities to access the public health system. Various benefits Care by the government together, Thailand is the top country. In ASEAN with little inequality Especially if you look at poverty We are the least If not counting Singapore Because the government creates opportunities Have public health benefits And have welfare to take care of vulnerable people “