Gov better spend energy subsidy money on improving infrastructure

Director of the Bank of Thailand’s Office of Macroeconomics Songtham Pinto has advised the government to stop subsidizing energy prices and spend the money on building basic infrastructure instead.

Mr. Songtham said that the average price for global crude oil would stand at 100 US dollars per barrel this year due to increasing demands from China and India.

He added that Thailand should not continue to peg the energy prices in the long term as it could cost the government up to 40-50 billion THB each year. He urged that the new government review this policy and that the subsidy money be spent on improving infrastructure such as rail systems which could benefit the country in the long run.

Source: http://thainews.prd.go.th/en/news.php?id=255405110020

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