1 trillion baht economic stimulus package that does not incur debt and the state already has this amount of money Mr. Pisit Leeahham, chairman of the Democrat Party policy...

“As I initially estimated, 3 years ago, the problem of the spread of COVID-19

Causing Thailand to lose income at least 3 trillion baht. For this reason, the 16 policies, which estimate the amount of about 1 trillion baht within this year, have an important condition that is not to increase public debt.

and not burden the government too much

As for asking where does this money come from?

I have an answer for this matter.

Mr. Phisit Leeahtam, chairman of the Democrat Party's economic team and leader

3 main selling point policies to stimulate the economy of the grassroots, the middle class and entrepreneurs:

“Start with only the first 3 stories first.

which will have a total amount of about

, which will be divided into

SME support fund with a budget of 300 billion baht to rehabilitate entrepreneurs:

For the establishment of a fund to support SMEs through the banking system, the amount is about 300 billion baht.

will use methods to persuade SMEs to increase their capital into shares

and this fund will hold shares

by promising to return it when the money comes to buy it back

Because at present, it must be admitted that after the outbreak of COVID-19, most SMEs have difficulty accessing funding sources.

from the various banks

Do not dare to lend a loan for fear of the risk of non-performing debt or NPL

“This method will help the bank not to encounter NPL problems because if we continue to be like this for the past 3 years, it is deceiving, but after this is

Really burned

because the existing savings are gone

because of many years of losses

And from now on, you will have to grit your teeth and sell it until it is taken over by a large company.

Therefore, from now on it will be more difficult.

Therefore, if you don't do anything, the bank will encounter more NPLs.

In addition, this method

It's still better than how to suspend debt payments.

Because when there is a suspension of debt payments

What must not be forgotten is that entrepreneur.

will have a bad track record due to having had debt problems before

The question is, which creditor would be willing to bring new money to fill it?

But on the other hand, if using this method, the entrepreneur will survive.

Because there is new capital to use in doing business and can borrow money to supplement

Because it has a strong capital base to continue

without sacrificing financial and fiscal discipline.”

Unlock GPF and provident fund

Middle class debt relief:

2. Help the middle class

from unlocking the Government Pension Fund (GPF) and provident fund

which is legal at this time

It is locked so that fund managers can use their funds.

Which has a total of not less than 2.6 trillion baht can only be invested in the financial instrument market

to change to open for members who own money

At present, there are more than 4 million people in total, divided into about 1.2 million civil servants and about 3 million members of the provident fund. The money in the fund

“This method is just unlocked and does not require a loan.

but to use his existing money to benefit

and this is another answer from the Democratic Party.

in debt relief for the public

using his own money to his advantage

because must not forget that

Investing money in that house

In addition to being an investment that can create future value for the people.

It is also a good result in terms of driving the economy as well.

for this

There is one more point that I think is useful and would like to present:

Therefore, attempts to bring money from the Social Security Fund to be distributed before maturity

Therefore, it is wrong that the ILO had a book to protest against this idea.

And even if the law was amended, it would still be against the intentions of the Social Security Fund.

Therefore, if thinking of doing so, the system should be changed like in the case of foreign countries first, namely, from the current social security system to In the case of a provident fund, the money that is paid into the member's account will be continually first.

therefore have the right to take out the money before the due date.”

village bank

Inject money into the foundation level:

3. Help people on the foundations from the village bank, 2 million baht per village (currently there are about 80,000 villages in Thailand), the amount is almost 200,000 million baht.

The concept of setting up is learned from past experiences where we put money into it.

The first model is the Poverty Alleviation Project (KhorKorJor.), which the Democrat Party initiated and implemented since the Chuan 1 government and continued to the Chuan 2 government, which has injected more than 10,000 money into the system

“But it is astonishing that

More than 10 billion baht from the NBTC project, which is operated through the Department of Community Development.

Ministry of the Interior that this

Today it still exists (laughs)

Another model is the Village Fund, which has many questions.

Nowadays, it is still not figured out how much money is put into good debt or bad debt, so we find a third way, a mixture of these two modes.

and then we found that there

which will have both the Government Savings Bank and the Bank for Agriculture

Help screen and take care of the audit system as a mentor.

“We will let the Department of Community Development

to play a role in raising all existing funds in the villages to become

village bank

Then put money into the village, 2 million baht per village as capital through the mechanism of the Bank for Agriculture and the Government Savings Bank.

All of which are not considered public debt.

Because according to the fiscal discipline law, section 28 can use this channel.

because both the Agricultural Bank and the Government Savings Bank currently have a lot of money

But did not dare to use it because they were afraid of NPL, so the government had to step in to help, for example, as a collateral provider, etc.

The village bank will become an important source of funds for low-income people to borrow for business investments.

for further propulsion of the economy at the grassroots level.”

13 220 billion baht budget policy for agriculture and society:

For the remaining 13 policies, which over the past 4 years have been proven to be effective and will continue to do so.

for example

Income insurance project for rice, palm, rubber, corn, cassava, which can distribute income to the people at the grassroots level, especially farmers for a good living.

This policy is now considered the unique DNA of the Democrat Party.

There is also a policy on arable land.

The Democratic Party will support people to have the right to cultivate land.

both state and non-state

Including land that is still abandoned that has not been issued a title document.

The party's initial goal is that in the next four years, at least 1 million title deeds will be issued to encourage people to have land and improve agricultural productivity.

As for public health policy

The party has an important policy, that is, using only one ID card can cure all diseases.

including taking care of the elderly 

Economic stimulus package with a budget of 1 trillion baht that does not incur public debt:

The 3 main policies, when combined, will cost about 800 billion baht, while the remaining 13 sub-policies will use about 220 billion baht, totaling 1 trillion baht. However, it can be seen that the first 3 projects cost 800,000

baht

Or do not use the expenditure budget for the remaining 2.2 billion baht.

Even if it is money that requires a budget

It is in the nature to use methods to reduce expenses in other parts.

or increase replacement income

because in the past there was a low income estimate

“We must not forget that the problem of the spread of COVID-19

cause the income base to decrease

Therefore, the latest year that the Ministry of Finance presented revenue figures.

Therefore, it may be a lower number than what actually happened.

As can be seen from the past year 2022, it turned out to have higher income than expected.

Because in the past, the numbers were estimated too low.

money no one sees

Package origin 1 trillion baht :

“As far as I have debated with other party economic teams.

It is worth noting that

No party has yet come up with an idea.

or trying to present macroeconomic policies

There are only talks about micro-economy, even though Thailand has been struggling for many years.

The economy grows only 1-2%, so Thailand needs a new stimulus like I try to present.

This may help stimulate the economy this year to grow up to 5%.

So it made me think that perhaps ... political parties

May be afraid of incurring public debt

Fear of being argued that you are about to create new debt

because now Thailand's debt is already very high

But he probably didn't realize that there were still these hidden extra-budget money.

and we can use it

This issue may be because no one has a sufficient understanding of the fiscal system.”

The vision of the global economic crisis and the specification of new leaders of Thailand :

“The ongoing global economic crisis

will make trading more difficult.

Because both the United States and Europe are trying to compete in legislation.

with the aim of protecting the country's own business sector

Therefore, the opportunity to get from investment

or new trade

So it's going to be more difficult.

worse than that

US financial crisis

and Europe at this time

It also causes investment planning and lending to be completely stopped.

Because no one would want to take risks at a time like this, therefore Thailand would hope for investment from foreign countries or the export sector as it used to be ... it's definitely more difficult.

US Federal Reserve or Fed, including central banks in Europe

Currently on the so-called

because of the problem of inflation which directly affects the cost of living of the people.

while the financial institution crisis

This implies the deteriorating asset quality in the system.

There are also signs

has also complicated.

which is really like this

Should have been born in Russia (laughs) because of a lot of sanctions.

What's interesting is that the Fed's assertion that it will not cut the policy rate, which lasted to 5% this year, has caused market volatility.

because inflation in the US

Still high, in principle, one must insist on monetary policy in order to combat inflation.

Because in 1980, interest rates were increased by 20% before inflation could stabilize.

But this time, it only reached the level of 5%. To say that it was enough, it probably couldn't be.

For the Bank of Thailand

Therefore, the important point that I would like to invite the Thai people to think about is to admit that in the near future, the problem of financial institutions has turned into a domino.

This could be as severe as the 2008 economic crisis, and the polarization of the two superpowers between the Dollar camp and the Non-Dollar camp could lead to a major economic crisis.

And there is a risk that may spread to Thailand

For this reason, my question is, in times like this,

What kind of prime minister do people want?

We need leaders who know the economy.

without the need for advisors to sit around

Must be a leader who is both resolute to children and to people

and has knowledge and experience in international politics

Including government administration as well or not?

Because of the economic conditions in the next era...I can say only one word that

It's not as pork as you think!

And I am very worried about this.”

Populist policy and the 2023 election:

“There are iron rules of the Election Commission or ECT, which may make many people.

Political parties must be taken aback.

Because when the campaign is exaggerated

and unable to answer questions from the Election Commission may be punished

In terms of the people

There is one poll showing that as many as 37% of people say they disagree with populist policies that focus on money.

which shows that people are more prudent.”

Politics VS Economic Team :

“Personally, I believe that

The economic policy that we have designed this time has something to the heart and directly covers almost all groups of people.

which I am confident that

Civil servants, when they see the policy on unlocking the GPF, he understands, but he may not speak.

which should not be different from those employees who have a provident fund

or farmers who like the Income Insurance Program

Previously, there was no policy like this at all.

There are only wide and beautiful policies, but this time we designed

We are deliberate for people to see.

And these recipients will probably want what we announce.

which I believe will definitely be effective

Because it answers both the micro and macro level.

and whatever the Democrat Party put up a sign and announced

The Democratic Party must be held accountable.

and must be put into practice

For example, this 1 trillion baht economic stimulus package policy

I'm sure it can be done.

because there is already money to do

So it's not just a matter of fantasies at all.

It may just be a little tiring to coordinate with various parties (laughs)”,

Thai Rath online news team reported

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