PM urges agencies to inject capital

PM urges agencies to inject capital

Prime Minister Prayut Chan-o-cha has ordered state agencies to hurry their budget spending in the last lap of the current fiscal year to help oil the economy, said deputy government spokeswoman Traisuree Taisaranakul on Sunday.

The prime minister was keen to see state funding being injected into the economy as quickly as possible for the new fiscal year in October, according to Ms Traisuree.

Budget spending is one of the key contributors to the economy which has been battered by the Covid-19 crisis.

Gen Prayut told the cabinet meeting last week that state agencies played an active role in disbursing funds to stimulate the economy.

"In light of the pandemic, the state budget provides an important impetus to move the economy forward," the deputy spokeswoman said.

State agencies have large budgets drawn from general spending, the central fund and the budget generated by the one-trillion-baht Covid-19 relief and reconstruction loan.

The one trillion baht was the first Covid-19 relief loan the government obtained last year. Another 500-billion-baht loan was also approved by parliament this year to carry on with relief and pandemic aid projects.

As of the end of last month, 269 projects worth 996 billion baht or 99% of the loan had been approved. However, the actual disbursement of funds to implement the projects stood at 841 billion baht.

Most of the funds, valued at 684 billion baht, went to financing 20 projects aimed at providing compensation for losses or reduction of personal incomes from the pandemic and helping other groups such as farmers.

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