Ousted Thai PM's rice scheme lost $15.8 billion, say Finance Ministry

November 13, 2014 10:41 AM

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Ousted Thai PM's rice scheme lost $15.8 billion, say Finance Ministry

BANGKOK (Reuters) - A rice-subsidy scheme introduced by Thailand's ousted former Prime Minister Yingluck Shinawatra lost 518 billion baht ($15.8 billion, the Finance Ministry said on Thursday.

The scheme, which paid farmers above-market rates for their crop, helped bring Yingluck to power in a landslide election in 2011 due to support from farmers mostly in the country's north and northeast.

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