Mr Meechai Viravaidya, Founder and Chairman of the Population and Community Development Association (PDA), disclosed that the budget proposed on 31 January, would be approved in March.
To ensure transparency and clean any doubts about corruption, Mr Meechai expressed that a sub-committee would be set up to monitor and seek the progress of the project including all processes of operation, including procurement and management issues.
Mr Meechai continued to say that the committee would travel to the communities to collect opinion surveys from the people about the overall picture of the projects, which could help reduce corruption.
]]>Mr. Satit said Prime Minister Abhisit Vejjajiva would be the person who would present the statement. The exact time and other ministers who would join the session were being identified, he said. He added the government would also inform the public of its plans to be implemented in the future.
He asserted that the statement making was aimed to ensure the people of the government’s determination to solve the country’s economic problems and to ease the people’s hardship.
]]>Mr. Thanavath said he agreed with the government in extending the loan lending target of seven commercial banks. He said it would help both exporters and investors to have more liquidity.
He recommended banks to release loans in response to the real demand of businesses rather than focusing on reaching the set target in order to avoid non-performance loans [NPLs] as the consequence of overlending if borrowers fail to timely settle their debts,he added.
Mr. Thanavath asserted that clear-cut policies on business lending would regain confidence amongst entrepreneurs and public consumers.
]]>In a press conference after the meetings, Foreign Minister Kasit Piromya elaborated that the draft ToR would be proposed in the name ‘ASEAN Inter-Governmental Commission on Human Rights’. He said the ASEAN Human Rights Body would be tasked to promote and protect human rights in ASEAN, and would be launched at the 15th ASEAN Summit which will take place in October 2009 in Phuket, Thailand.
Mr Kasit stated that national selection of the body could begin right after the meeting if the ToR could be endorsed at the Foreign Minister Retreat. He explained that the body would consist of one representative appointed by each ASEAN member nation, who would be serving a three-year term, adding that they could come from any sector.
In addition, the Minister informed that the ASEAN Foreign Ministers also endorsed the draft agreement on privileges and immunities of ASEAN, which would be in the same manner as that of the United Nations (UN). He said that it was hoped also that the ASEAN Foreign Ministers would be able to sign this draft during the 15th ASEAN Summit.
The ten ASEAN Foreign Ministers are currently meeting in the southern island of Phuket, at the 42nd ASEAN Ministerial Meetings, Post-Ministerial Conferences and 16th ASEAN Regional Forum from 17-23 July.
]]>However, implementation of the measures will raise the public debt to 60 per cent of the gross domestic product (GDP) in 2012, according to Sukit Udomsiri, first executive vice president of Siam City Research Institute, at a special panel discussion on the economic and financial situation
He predicted the planned issuance of the government bonds to absorb the market liquidity would not adversely affect the overall liquidity in the system.
But liquidity is quite likely to tighten next year as the demand for investment funds by the private sector is set to increase as a result of recover in the global economy.
Under the circumstances, he said, the interest rate might to increase next year.
Mr. Sukit believed the Thai economy next year would not be worse than this year as the global economy is forecast to is forecast to enjoy the V-shape turnaround in 2011.
Still, he warned of the renewed rise in inflation in the coming August-October period, since global oil prices are expected to increase further. (TNA)
]]>“It’s not difficult to dissolve the House and return power to the people,” the prime minister said.
Mr. Abhisit will complete his ASEAN chairmanship at the end of this year.
Reasserting that the overall situation in Thailand is quite peaceful now, the prime minister said his government still must more quickly resolve the political, economic and southern insurgency problems so that “peace can return to the country.”
He said his government has issued two programmes of economic stimulus measures which he is confident will turn the economy around to reenter positive performance in the fourth quarter this year.
The government will boost tourism and public utilities and Thailand will remain the world’s largest food exporter, Mr. Abhisit said.
Mr. Abhisit was scheduled to hold talks with his Singapore counterpart Lee Hsien Loong, pay a courtesy call on President S.R. Nathan and confer with Minister Mentor Lee Kuan Yew, Singapore’s first prime minister, before returning to Bangkok late Monday. (TNA)
Speaking at a seminar on “Navigate Crisis, Adjust to Fight Global Economic Meltdown,” Siam Commercial Bank Executive Vice President Sethaput Suthiwart-Narueput, who heads the Economic and Business Intelligence Unit, said the ongoing global economic recession had taken its toll on various sectors in Thailand.
The country’s industrial and export sectors had been hit by the recession, but there was a signal that the impacts had nearly hit the bottom.
He said tourism is the sector that worried him most since it had been directly impacted by the recession and the ongoing spread of H1N1 influenza worldwide.
Worse still, there is the large number of employees working in this sector where 80 per cent of the operators are small-and medium-size enterprises.
So, it had directly affected the employment and the local consumption.
Given these factors, he projected the Thai economy would shrink 5 per cent for this year. The economic recovery would be slower than usual because the crisis stemmed from the financial sector collapse.
Mr. Sethaput said it would take time to restore consumption, spending and purchasing power in the United States, Europe and Japan, which are major export destinations of Thailand and many other countries. (TNA)
]]>Thai Baht in off-shore market closed at 34.08 against the dollar last Friday. The Baht at 8.20 am today fluctuated in the range of 34.09-34.13 in line with the US dollar currency. The US dollar appreciated today due to the positive reports on economic figures, which resulted in a depreciation of the baht.
The Thai baht is expected to trade slightly weaker tomorrow, and should fluctuate in the range of 34.15-34.30 against the dollar
]]>Mr. Korn believed that the national economic situation would not be affected by the spread of the virus, reasoning that the Ministry of Public Health had been efficiently handling the outbreak and would be able to ensure Thai citizens and foreign tourists of their safety. He also admitted a high probability for the virus to pass into free trade countries such as Thailand but confirmed that the government had been closely monitoring the situation.
In order to boost the national economy Mr. Korn said the government had planned to launch several economic stimulus measures under the ‘Strength of Thailand’ scheme with a total budget of 1.43 trillion baht. The measures would aim to solve unemployment, increase purchasing power in the country and yield long-term economic advantages. The Finance Minister assured that the government’s plan to seek loans would not impact the country’s fiscal standing.
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