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DPM Somkid reiterates the need for Thailand to borrow one trillion baht

13 Sept 11:34 Key points summarised by AI

Deputy PM Somkid urged Parliament to approve borrowing one trillion baht to counter COVID-19's economic fallout, as current funds are projected to deplete by July/August.
He emphasized the necessity of a bond stabilization fund to prevent market collapse, drawing lessons from the 1990s "Tom Yum Kung" crisis.
Somkid defended soft loan decrees for SMEs, acknowledging banking system constraints and aiming to use the crisis as an opportunity to bolster Thailand's economic foundation.
He assured Parliament that all allocated funds, including 400 billion baht for rehabilitation, would be utilized judiciously to support the economy through the crisis until next year.

Today 17:04 Key points summarised by AI

Civic groups, including those representing labourers and older people, submitted a protest letter demanding the Bhumjaithai Party withdraw bills to shift funding for four organizations (Thai PBS, Older Persons Fund, Thai Health Promotion Foundation, Sports Authority of Thailand) from earmarked taxes to the central government budget.
Leaders argue these organizations were established for public interest, supporting public service media, elder care, public health, and sports development, and any amendments should consider all stakeholders' views.
Over 70% of parliamentary poll respondents opposed the proposed changes, prompting civic leaders to call on the ruling party to respect the people's will and withdraw the bills.
A network of slum dwellers also opposes the funding changes, threatening a rally if the government fails to address their demands.