Bt40 billion to be injected for farmers, graduates

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BANGKOK, Jan 26 – The Ministry of Finance will seek a Bt40 billion soft loan for job creation to help farmers outside their crop season and new graduates.

Deputy Finance Minister Wisudhi Srisuphan said the spending would not only help farmers and new graduates, but also stimulate the national economy.

Fiscal Policy Office director-general Krisda Chinavicharana in his capacity as spokesman of the Ministry of Finance, said in the first quarter of fiscal 2015, the government earned Bt499.46 billion, Bt3.07 billion or 0.6 per cent higher year-on-year.

This resulted mainly from the second round of revenues from the 2.1GHz (3G) frequency use licences.

During the period, the government disbursed Bt844.10 million of its budget, Bt13.04 billion or 1.6 per cent higher year-on-year.

The result was the budgetary deficit of Bt344.64 billion.

The treasury balance in December 2014 stood at Bt179.32 billion.

“The budgetary deficit in the first quarter sent more money into the economic system. This will drive economic growth afterwards,” Mr Krisda said.