A question of the country's fiscal position

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong says the government is confident that the rice scheme will not hurt the country’s fiscal position. I understand he says that based on the national rice policy committee’s loss figure for the scheme of Bt130 billion.

If losses from this project rise to Bt200 billion or Bt220 billion, as suggested in reports by Moody’s Investors Service and the committee on accounting in the rice scheme will this not affect the country’s fiscal position? Those figures include the government’s use of Bt100 billion (which is a quasi-fiscal measure not disclosed in the country’s annual budget) from the Bank of Agriculture and Agricultural Cooperatives.

If the BAAC suffers such a loss, the government is responsible for repaying it from taxpayers’ money. How will the government cope with this?

Sutipunt Bongsununt

Kanchanaburi