The cabinet meeting on 28 October 2008 has come to the following solutions;
Approval draft Royal Decree on Extension Bank Deposit Guarantee Act B.E.... as proposed by Ministry of Finance. Draft Royal Decree is to allow to pay the full amount money to customers in line with the regulation under Article 53 during the first four years of Enforcement under the Bank Deposit Guarantee Institution Bill on B.E. 2551 as follows
No. of Year Timeframe Amount of Money (old) Amount of Money (new) 1 11 August 2008-10 August 2009 Full amount Full amount 2 11 August 2009-10 August 2010 100 million baht Full amount 3 11 August 2010-10 August 2011 50 million baht Full amount 4 11 August 2011-10 August 2012 10 million baht 50 million baht 5 11 August 2012 from now on 1 Million baht 1 Million baht
Due to the fact that financial crisis happened in the United States and rapidly has spread to the European countries many banks and financial institutions faced the liquidity problem. Many governments therefore have to come up with the measures and provide loan to the financial institutions. However, Thailand has seen to have economic immune better than those during the crisis in 1997 and financial monitoring system is more strict and up to international standard. The Extension will boost up the customer confidence in banking system and need to protect the nation from the world finance fluctuation.
Acknowledgement the Ministry of Commerce’s report on national international trade in first 9 months 2008 (January —September) details are as follows;
1. Export
Export in September 2008 worth 15,868.6 million USD which is increased by 19.4 % when compared to those the same month of last year. The Agriculture product which increased in export is rice national rubber frozen and chicken. Meanwhile, the products which declined in export are electronic appliance, furniture. However, the Export in first 9 months of 2008 was worth 135,926.1 million USD increased by 23.9 % when compared to same period of last year. The 9 month export is accounted as 79.4 % of the export target of the year.
2. Import
Import in September of 2008 worth 15,753.3 million USD increased by 39.4 % from the same period of last year. The import is expanded in every categories especially energy section which increased in import by 42.1 %. The first 9month import is worth 138,668.6 million USD increased by 35.8 % when compared to the same period of last year.
3. Trade balance
Thailand gain the trade surplus in September which valued at the amount of 133.3 million USD. Then, trade balance for the first nine month of 2008 deficit at 2, 742.4 million USD.
Approval of Government Administration Plan B.E. 2009-2011 as proposed by the Office of National Economic and Social Development Board, details are as follows;
1. Approve of Government Administration Plan B.E. 2009-2011 and the Secretariat of the Cabinet stipulated in Royal Thai Government Gazette
2. Assign government agencies implement in complied with Government Administration Plan and conduct the 4 years Operation Plan and next year operation plan
3. Assign Ministry of Finance and Office of Budget Bureau to consider the option of financial sources for the Mega Projects
4. Assign the Office of National Economic and Social Development Board to be the agency in charge of follow and evaluate the implementation of Government Administration Plan
The Government Administration Plan B.E. 2009-2011 is consisted of Concept and Direction, Mean and Way, Mechanism, and Plans and Projects to implement the Public Administration. In this regards, government agencies estimated the primary budget at 7,102,698.27 million baht. The investment plans would be in line with the Government policy such as Mega Projects, education, public health, water resources management, transportation and logistic, energy and telecommunication. The government’s investment is aimed at strengthening the national economic foundation.
--Cabinet Meeting (Somchai Wongsawat) October 28, 2008--