Following the Constitution Court ruling on Wednesday in favour of the legality of two executive financial decrees, one urgent task is to construct riverside flood prevention walls with a budget of at least Bt30 billion, said Deputy Prime Minister and Commerce Minister Kittiratt Na Ranong.
Construction of flood prevention walls along the rivers are aimed at replacing sandbag embankment used during the flood crisis last year.
The decrees will allow the government to borrow Bt350 billion in loans and transfer debt from the Financial Institutions Development Fund FIDF to the central bank.It is the duty of the House Speaker to present the motion to Parliament for consideration and the government is ready to clarify that while administrative work on water management will be done in parallel, Mr Kittiratt said.Another Bt60 billion of budget will be allocated to implement a floodway project with two million rai 800,000 acres of land to be used as water retention areas, he said.
The government has conducted a survey and found the appropriate 1.5-million rai 600,000 acres plots of land.The budget has already included compensation money to be paid for residents in those areas.
Large Shopping Malls in Bangkok Will Be Closed until July 25th
Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.
Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak
The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.
The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.(more…)
Subscribe via Email
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...