Infrastructure spending in Thailand – Fast train coming – The Economist, October 12, 2013
[Thanks to Tom for pointing this out.]
…In the past 20 years, train passenger numbers have collapsed from 88m per year to 46m. The government, it would seem, is no longer willing to tolerate the slide. The big idea is to spend 2 trillion baht ($64 billion) by 2020 towards upgrading the country’s creaking infrastructure. Another 3 trillion baht will come due as interest on the loans, accumulating over the next 50 years.
…A fortnight ago parliament passed a bill that permits the government to take on off-budget debt equivalent to the combined annual economic output of Vietnam, Myanmar, Laos and Cambodia.
…The case against the infrastructure plan, which everyone agrees is needed in principle, starts not with debt but with corruption. Thailand’s government agencies are notorious for their procurement contracts’ lack of transparency…
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- The King’s Birthday
- 14 Years Ago: Thaksin reveals his political successor
- Remember the bullet-proof child gods who led a brief Karen insurgency into Thailand in the 1990s?
- 6 Years Ago: After just a few months in office, govt pushing hard for Thaksin pardon
- From 1989: An article in the NYT about Rama IX
- 6 Years Ago: Pheu Thai govt moves fast–Proposed law gives police power to shut news media
- All About the Royal Cremation Ceremony for the late King
- The junta eats the budget
- He will live in our hearts eternally
- Sudarat is finished