Koh Samui July 14- Permanent Secretary of the Ministry of Finance Acknowledged the late establishment of the government, the year 2024 budget can be disbursed into the system in March 2024

Mr. Krisada Chinawicharana, permanent secretary of the Ministry of Finance, revealed that the process of forming a government, if protracted, changes polarity before announcing economic policies. To prepare the budget in accordance with the campaign policy, it is expected that the preparation of the annual expenditure budget for the year 2024, amounting to 3.35 trillion baht, will be delayed for about 6 months. Disbursements can be released into the system in March 2024, with regular budgets such as civil servant salaries, commitment budgets using the framework. You can go to the same place first. What is worrying about is the investment budget because it is a new amount injected into the system of 600 billion baht. Normally, the investment budget can be disbursed towards the end of the 3rd-4th quarter of the fiscal year. Investment is missing about 30 percent or about 1.8 billion baht, affecting GDP about 0.03-0 percent. 05 of GDP to drive the economy economic continuity Projects that are on a budget Accelerate injecting money into the system It is expected to expedite disbursement in the first and second quarters of the fiscal year 2024, about 5-6 billion by promoting the introduction of training and seminar budgets, which are around 5-6 billion baht, to spend on investment plans of state-owned enterprises 5 How can a hundred thousand million be accelerated with disbursement? pushing for private investment projects Through the state-owned specialized financial institution (SFI), approximately 70 billion baht is expected to be sufficient to support the economic propulsion during the formation of the government.

Mr. Pornchai Thiravech, a spokesman for the Ministry of Finance, said that in 2023, the Fiscal Policy Office Estimated that the Thai economy will grow by 3.6 percent, it is expected that the Thai economy will continue to recover from the previous year. from private consumption And tourism is an important engine to drive the economy. It is expected that this year foreign tourists will travel to Thailand 29 million people. will return a surplus of $4.2 billion. and headline inflation of 2.6 percent, which is gradually falling back into the target framework agreed by the Treasury and the MPC. On July 26, the Ministry of Finance Preparing to announce a review of the 2013 GDP figure again because many factors have changed a lot, such as the baht depreciating more The journey to Thailand of Chinese tourists because the Chinese economy has problems

Fiscal Policy Office has prepared a plan to support the economic slowdown from delayed budget disbursements in conjunction with the NESDB budget bureau and the Bank of Thailand Plan to disburse the budget for the year 2017 alongside the year 2018 from the end of this calendar year. Support for late government establishment after the new government Additional economic stimulus measures are needed. FPO has prepared various online payment platforms to support the new government policy. and must primarily stimulate consumption because it generates the money circulating in the system as quickly as possible Therefore designed to match the group because there is a limited budget, for example, may use the central budget in an emergency if necessary.-Thai News Agency

Source: Thai News Agency