Diese Regierung die garnix mehr auf die Reihe bringt hat jetzt offensichtlich auch die Geldreserven verdattelt!Finance Minister Apisak Tantivorawong has defended a relatively low level of treasury reserves at the end of December 2016, saying it was the result of effective management by his ministry to minimise interest costs.
His response came after an uproar over a revelation that the treasury reserves -- the balance between revenue and expenditures of the government -- had dropped by 84.9%, or 420.8 billion baht, to 74.9 billion baht from shortly after the coup to December 2016.
"We've set the optimum level of treasury reserves at 50-100 billion baht so having 300-500 billion lying around is too much," he said.
The reserves at 74.9 billion baht at the end of December 2016 were not low. Even if they were lower than this, the Finance Ministry could borrow another 80 billion baht to maintain liquidity, he added.
"By keeping the reserves low, we can save almost 2 billion baht in interest costs -- an amount that can be better spent," he said.
The former Krungthai Bank chief said his ministry was also studying whether to propose amending the public debt law so it no longer needs to accelerate planned borrowings at the end of each fiscal year [September] and leave the money untouched while having to pay interest on it.
Existing laws require that planned borrowings would be scrapped if they are not made by September.
The minister explained further that early in a fiscal year, reserves were customarily low because tax revenue had not yet come in. "This is especially the case in fiscal 2016 as we changed the way we managed the reserves and sped up disbursement for projects."
"If we borrow and don't use the money immediately, we have to deposit it with the Bank of Thailand, which pays no interest while the borrowings are subject to at least 2% interest," he added.
He reiterated the government had plenty of money and the reserves were not its only source. "We can borrow much more as allowed under our deficit budget."
Nur weiter so, hoffentlich sinkt dann auch endlich mal der hohe THB Kurs!
Was ist dies für eine lächerliche Argumentation wenn man in einer Zeit der historisch niedrigsten Zinsen
420 THB Rücklagen verdattelt um angeblich 2 Milliarden THB Zinsen zu sparen?
Zusammen mit dem vorherrschenden Verfolgungswahn ist dies ein weiteres Zeichen dafür dass diese
Militärdiktatur am absoluten Ende ihrer Regierungskunst ist!
Watt Nu?