Thailand Has No Easy Options to Pay for Rice Subsidy

Thailand Has No Easy Options to Pay for Rice Subsidy – WSJ, October 7, 2013
…Since the Prime Minister Yingluck Shinawatra launched the rice subsidy program in 2011 – a populist campaign to help local farmers by buying rice at as much as 50% above market price – the Cabinet has approved a total budget of $16 billion, taken from a state-run bank, to fund the program.
But the government has already spent about $21.4 billion in total since then, Commerce Minister Niwatthamrong Boonsongpaisal told reporters last month. The Commerce Ministry, which manages the program, has paid some $5 billion from rice sales back to the bank…

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