Here are the lastest news of the government’s boiler room.
Reminder : the mega-projects (hundreds of km of train lines) are supposed to reach a total of 1 670 billions THB (53 billions USD) until 2011.
The Public Debt Management Office is kind enough to publish a financing plan (article here). Ready ?
-18 % will be borrowed on the domestic market
-14 % will be borrowed overseas
-29 % will come from the annual budget of the government
-8 % will come from the retained earnings of state entreprises
The journalist at Nation is clever enough to note that “It is yet to be decided from where some 27 per cent of the funding will be secured.” !
Goddamned ! 18 + 14 + 29 +8 = 69.
31 % of the total amount are missing.
Hum… A third of the total… That’s messy, isn’t it ? Where they will come from ? From the moon ? Thaksin’s pockets ? Or maybe from the… government’s imagination ?
To this day, on the 1670 billions THB grand master plan… only 2,5 % are financed (by a loan from the JBIC, read here) (or 1,1 %… because the total amount of mega-projects changes, depending on the daily mood of the government…)
The funny financing plan from the PDMO with a third of the budget “missing“… is just another proof that the Mega-Projects are just another Thai Follies… a Mega-Dream.