Bankruptcy warned for Thailand if Bt2 trillion loaning bill is passed: Democrat
Democrat party-list MP Pusadee Tamthai said Friday evening during last day of the House Debate on proposed Bt2 trillion infrastructure projects that she fears that the kingdom may become financially broke if things did not proceed as claimed by the Yinglu
“People fears that the Bt2 trillions will lead to epic corruptions,” she said.
Airing similar concerns is Bhum Jai Thai party MP Chai Chidchob who said borrowing Bt2 trillion for 50 years period may be too much and too long for Thailand. “I would be ashes by now,” said Chai, who is 85, adding that each Thai citizen will be more than Bt104,600 in debt if the projects proceed.
Chuti Krairiksh, Democrat MP for Phitsanulok province warned that such massive borrowing will placed Thailand’s public debt way above countries like Indonesia, Australia and New Zealand where none have public debt exceeding 35 per cent per GDP.
Chuti also questioned why the quoted costs for construction of hi-speed train per each kilometre is even higher than the one in Spain and added that he’s afraid that the government is seeking the huge borrowing in order to engage in corruption.
