Thai PM:Bt2t borrowing plan is transparent

BANKGOK, March 28 (TNA) - As Thailand's House of Representatives started deliberating the government's 2-trillion-baht borrowing bill on Thursday, Prime Minister Yingluck Shinawatra told MPs that the borrowing plan to fund new mega infrastructure development projects is transparent and accountable. Yingluck acknowledged that her government will focus on long-term borrowing and use appropriate instruments to manage the new mega-investment projects over the next seven years. The prime minister said the mega-infrastructure development projects, mostly in the transport sector, will respond to policies her government has earliern announced to the Parliament, aimed to enhance the national networks of land, air and water transport to connect with those of neighboring countries, including those on double rail tracks and high-speed trains to improve transport, boost economic activities in border areas, distribute prosperity to remote areas and promote tourism. The prime minister pointed out although the borrowing will increase the proportion of public debts in Thailand's gross domestic product (GDP), she believes that the investment will later boost the country's GDP and the proportion of public debts will be then in a manageable level, ensuring that her administration will make spending of the loans transparent. Deputy Prime Minister and Finance Minister Kittirat Na-Ranong, meanwhile, told the House that the bill will authorize the Finance Ministry to borrow up to 2 trillion baht to pay for the mega-infrastructure projects to support national economic development and growth, urbanization, population growth and investment, as Thailand has potential to become a center of the ASEAN Community (AC), set to formed by 2015. (TNA)