ID :
43773
Mon, 02/02/2009 - 21:14
Auther :
Shortlink :
http://m.oananews.org//node/43773
The shortlink copeid
PM: Government can manage Thailand's fiscal reserves
BANGKOK, Feb 2 (TNA) - Thai Prime Minister Abhisit Vejjajiva reaffirmed Monday that his little more than one-month-old government is on top of the economic situation and can manage Thailand's cash flow, and the public should not be alarmed at the decline in fiscal reserves.
The government will manage its cash flow for sufficient spending on essential matters, Mr. Abhisit said, adding that the fiscal reserves level at present is not so low as to affect stability.
He said the government had thoroughly considered all regulations enforcing the management of budget deficits and on how to manage the cash flow.
The public should not panic, he affirmed, asserting that the Finance Ministry will explain to the people later just what has been done.
Reports on the declining Finance Ministry's reserves problem, in which the reserves have declined to about Bt50 billion, emerged while the prime minister was attending the World Economic Forum in Davos, Switzerland, last week.
Also, former deputy finance minister Pichet Panwichartkul and also a member of the ruling Democrat Party suggested earlier that the government should have a minimum of cash reserves which would be sufficient for at least two months for expenses, but now they are enough for just one-and-a-half-month.
But Mr. Abhisit said cash reserves should not be kept in large amounts, and that cash flow management is now also changed from before.
"Now the government has issued monetary and fiscal policies, and cash reserves are managed by both the Finance Ministry and the Budget Bureau. Therefore, there's no problem in the overall picture," Mr. Abhisit said. (TNA)
The government will manage its cash flow for sufficient spending on essential matters, Mr. Abhisit said, adding that the fiscal reserves level at present is not so low as to affect stability.
He said the government had thoroughly considered all regulations enforcing the management of budget deficits and on how to manage the cash flow.
The public should not panic, he affirmed, asserting that the Finance Ministry will explain to the people later just what has been done.
Reports on the declining Finance Ministry's reserves problem, in which the reserves have declined to about Bt50 billion, emerged while the prime minister was attending the World Economic Forum in Davos, Switzerland, last week.
Also, former deputy finance minister Pichet Panwichartkul and also a member of the ruling Democrat Party suggested earlier that the government should have a minimum of cash reserves which would be sufficient for at least two months for expenses, but now they are enough for just one-and-a-half-month.
But Mr. Abhisit said cash reserves should not be kept in large amounts, and that cash flow management is now also changed from before.
"Now the government has issued monetary and fiscal policies, and cash reserves are managed by both the Finance Ministry and the Budget Bureau. Therefore, there's no problem in the overall picture," Mr. Abhisit said. (TNA)
