PM defends Covid-19 loans planPrime Minister Prayut Chan-o-cha addressing a meeting of the House of Representatives on Wednesday, the first day of a debate on the government's three executive decrees on Covid-19 borrowing. (Photo by Chanat Katanyu)The government on Wednesday defended its plan to borrow about 1 trillion baht to fund its scheme to help people affected by the Covid-19 pandemic, repair the financial system and restore economic security. "I insist this borrowing plan won't affect the country's public debt balance and the government's compliance with the public debt law and financial discipline," said Prime Minister Prayut Chan-o-cha. A detailed borrowing plan has been adopted which requires all loan contracts to be signed by no later than Sept 30 next year, he said. Opposition leader Sompong Amornvivat, meanwhile, accused the government of failing in its past efforts to mitigate the impact of the Covid-19 outbreak.

Source: Bangkok Post May 27, 2020 23:41 UTC