Cabinet okays borrowing of another THB700 billion to tackle Covid impact
The Cabinet on Tuesday approved a Finance Ministry proposal to borrow another THB700 billion to tackle the impact of Covid-19. This is in addition to the previous THB1-trillion loan.
The Finance Ministry said it was necessary to borrow the extra THB700 billion because only THB180 billion was left from the earlier loan of THB1 trillion. Of the THB180 billion, THB150 billion will go to the public to relieve people’s suffering and THB30 billion baht will be handed to the Public Health Ministry.
“Of the THB700-billion loan, THB500 billion will go to tackle Covid-19 while the remaining THB200 billion will be used to compensate for lower-than-targeted revenue collection during fiscal year 2021-2022,” the ministry said.
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