Thai PM urges agencies to expedite investment budget to stimulate economy
Thai Prime Minister Paetongtarn Shinawatra has asked government agencies to expedite the investment budget for fiscal year 2025 to stimulate the economy.
Thai Prime Minister Paetongtarn Shinawatra (Photo: bangkokpost.com)
Bangkok (VNA) – Thai Prime Minister Paetongtarn Shinawatra has asked government agencies to expedite the investment budget for fiscal year 2025 to stimulate the economy.
Charing the meeting of senior officials at the Finance Ministry on November 4, the PM said the country faces a myriad of problems that accumulated over the years along with new challenges.
She said the government must resolve entrenched structural issues, build resilience, and promote growth while noting that public spending is an effective tool for stimulating private spending and consumption.
She added that the investment fund worth 900 billion THB (26.74 billion USD) represents 5% of the country's GDP, so its disbursement will generate economic activities and income and help achieve the targeted GDP growth.
At the meeting, Thai finance permanent secretary Lavaron Sangsnit said the government aims to disburse at least 80% of the investment budget.
He said speeding up fund disbursement will help deliver that target without the need for additional measures.
The first month of the 2025 fiscal year in October saw above-average disbursement, he said, urging state agencies to maintain the momentum.
In Thailand, the fiscal 2025 budget of 3.75 trillion THB took effect on October 1, with the investment budget of 900𒐪 billion THB accounting for 24.2% of the total expenditure./.
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