PM Yingluck pledges to keep public debt level below 50% of GDP

Tuesday, 29 January 2013 By  NNT

BANGKOK, 27 January 2013  The Prime Minister has assured that the Pheu Thai-led government will strictly adhere to financial disciplines in outlining the borrowing plan for the country’s basic infrastructure projects. 

Speaking on "The Yingluck Government Meets the People" weekly TV program, Prime Minister Yingluck Shinawatra reiterated the government’s plan to implement a set of national strategic policies for the 2014 fiscal year to move Thailand forward.

According to the Premier, these strategies involve various aspects, including the enhancement of the country’s competitiveness with an aim to turn Thailand into a middle-income country status, the reduction of economic, political and social inequalities, the promotion of economic growth with an emphasis on the quality of life, and the seeking of a balance of and the improvement of the state administrative system.

PM Yingluck affirmed that the government’s borrowing plan for more than 2.2 trillion baht would adhere to strict fiscal disciplines while affirming to keep the level of public debt below 50% of GDP.

Meanwhile, Transport Minister Chadchart Sittipunt said that the government has been pushing for the construction of the rail transport systemto help lower logistics costs in Thailand.

He added that the state investment in the high-speed train system, introduced to enhance the distribution of goods, is expected to proceed to the construction biddings for 4 lines, including Bangkok-Chiang Mai, Bangkok-Nakhon Ratchasima, Bangkok- Pattaya, and Bangkok-Hua Hin, before the end of this year.

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