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Thailand plans to borrow $1.2bn overseas for road projects
Nasir Ahmed
Wednesday, 25 February 201
BANGKOK: The Thai government plans to borrow 40 billion baht ($1.23 billion) overseas to fund road construction, a deputy prime minister said on Wednesday.
Spending on road construction and upgrades was aimed to help spur domestic economic activities from the middle of this year, Pridiyathorn Devakula told reporters after meeting economic ministers.
"It will be overseas borrowings. The finance ministry will then swap them into baht currency to limit any risk exposure," he said.
The borrowing plan will be proposed to the cabinet for approval next week, Pridiyathorn said.
Road construction is part of the ministry's 80 billion baht ($2.46 billion) plan to help revive Southeast Asia's second-largest economy, which is barely growing.
The planned spending is on top of the country's annual budget.
The military government is trying to tackle economic problems after taking power in a coup in May, but disbursement of its investment budget has been slow.
brecorder.com
Nasir Ahmed
Wednesday, 25 February 201
BANGKOK: The Thai government plans to borrow 40 billion baht ($1.23 billion) overseas to fund road construction, a deputy prime minister said on Wednesday.
Spending on road construction and upgrades was aimed to help spur domestic economic activities from the middle of this year, Pridiyathorn Devakula told reporters after meeting economic ministers.
"It will be overseas borrowings. The finance ministry will then swap them into baht currency to limit any risk exposure," he said.
The borrowing plan will be proposed to the cabinet for approval next week, Pridiyathorn said.
Road construction is part of the ministry's 80 billion baht ($2.46 billion) plan to help revive Southeast Asia's second-largest economy, which is barely growing.
The planned spending is on top of the country's annual budget.
The military government is trying to tackle economic problems after taking power in a coup in May, but disbursement of its investment budget has been slow.
brecorder.com