Investment disbursement tallies 16% of fiscal 2021

Investment disbursement tallies 16% of fiscal 2021

Investment budget disbursement for the first two months of fiscal 2021 was almost 16% of total investment expenditure, says the Comptroller-General's Department.

Investment budget disbursement totalled 101 billion baht, accounting for 15.5% of the total investment budget of 649 billion for fiscal 2021, said Poomsak Aranyakasemsuk, the comptroller-general.

The disbursement ratio was slightly higher than expected, given the disbursement target of 13.3%, said Mr Poomsak.

Fiscal 2021 started on Oct 1 and ends on Sept 30, 2021.

As most drivers fuelling economic growth in Thailand have stalled because of the pandemic, public investment has become an important factor propelling economic growth.

For the regular expenditure budget, a sum of 649 billion baht has been disbursed between October and November, accounting for 24.6% of total regular expenditure budget worth 2.64 trillion, said Mr Poomsak.

For overall budget expenditure from Oct 1 to Nov 30, the amount was 751 billion baht, accounting for 22.8% of total annual budget worth 3.3 trillion for fiscal 2021.

For the budget set aside for carry-over disbursement, the expenditure registered 205 billion baht, accounting for 96.5% of total carry-over budget worth 212 billion.

The Finance Ministry has proposed measures to accelerate public spending to expedite the fiscal 2021 annual budget's disbursement into the economy, aiming to support Thailand's economic recovery in the wake of the pandemic crisis, said Mr Poomsak.

"The Comptroller-General's Department acknowledges the government's policy and has set up an ad hoc working committee to follow up on the disbursement of the fiscal 2021 budget to support all government units," he said.

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