Saturday, May 30, 2009

Thai PM: gov't expects to inject economic stimulus funds in August

BANGKOK, May 29 (Xinhua) -- It is expected the second round of economic stimulus funds will be injected in to the economy in August, if the Constitution Court next week rules that a proposed executive decree to allow the government to borrow a huge amount of loans is constitutional, Prime Minister Abhisit Vejjajiva said here Friday.
On Wednesday next week the Court is scheduled to rule on the legality of the decree to allow the government to borrow the 400-billion-baht (11.64 billion U.S. dollars) worth of loans, which is part of the second round of the government's economic stimulus packages.
Abhisit said if the Court rules in favor of the proposed executive decree, it will be forwarded to the Parliament for approval.
The loan borrowing will be processed after it is approved by the Parliament, said the Prime Minister.
From August, it is estimated that the government can start using the loans to finance several investment projects to shore up the domestic economy, Abhisit said.

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