Prayut will shift unused budget to fund stimulus
Prime Minister Prayut Chan-o-cha has ordered state agencies to speed up budget disbursement for fiscal 2019, which ends next month.
He also threatened to allocate any undisbursed budget to the government's economic stimulus measures and to projects that ease the impact of dry spells on farmers.
Gen Prayut told all ministers that the budget allocation should be based on maximum efficiency and public benefit.
The prime minister insisted that development projects proposed by state agencies for economic ministers' vetting should create a multiplier effect in the short term.
According to Finance Minister Uttama Savanayana, the new economic stimulus measures that cover all groups of farmers, small and medium-sized enterprises, startups, low-income earners, community enterprises and citizens are to go before the economic cabinet on Friday.
Government spokeswoman Narumon Pinyosinwat cited the Budget Bureau's report to the cabinet yesterday that as of June 28, total disbursement of fiscal 2019 budget amounted to 1.84 trillion baht, making up 73.1% of the total budget of 3 trillion baht.
Disbursement was 3.9% below target.
The government had set a target to disburse 1.94 trillion baht in the current fiscal year, accounting for 77% of the total budget.
The regular budget was 1.58 trillion baht disbursed, accounting for 80.3% of total budget. Disbursement was 0.3% higher than targeted.
Disbursement of investment budget totalled 267.82 billion baht, accounting for 48% of the total investment budget. Disbursement was 17.1% below target.
The cabinet last week endorsed a fiscal 2020 budget of 3.2 trillion baht, up 6.7% or 200 billion baht from fiscal 2019, which ends Sept 30.