The cabinet approved an investment budget of 500 billion baht on Tuesday for 46 state-owned enterprises in fiscal 2024, which starts in October this year, with an aim to stimulate the country's economy.
Government spokesman Chai Wacharonke said the allocation includes investment expenditures for routine projects and ongoing ones worth 209 billion baht, with additional investment expenditures of 50 billion baht during the year.
In addition, there are investment expenditures for state enterprises classified as public companies and subsidiaries (five in total) tallying 241 billion baht, along with additional expenditures during the year of 50 billion baht.
In total, the overall budget allocation for fulfilling routine missions amounts to 1.38 trillion baht.
According to Mr Chai, for projects that have not been approved by the cabinet and investments that utilise budgetary funds according to the 2024 Budget Expenditure Act, they can proceed once they receive approval according to the prescribed process.
The spokesman said the disbursement target for state enterprise investment funds is 95% of the approved budget framework.
He said the cabinet also approved the National Economic and Social Development Council (NESDC), the state planning unit, adjusting the investment budget for state enterprises in fiscal 2024 to align with the allocation of budgetary funds according to the annual budget expenditure law.
This adjustment includes additional budget allocations, central budgets, or budget adjustments based on budgetary criteria and procedures, or those approved by the Budget Bureau, said Mr Chai.
The NESDC was also allowed to adjust the operating budget and investment budget of state enterprises to align with approved additional investments according to the cabinet's resolution to enable enterprises to continue operating in fiscal 2024.
The cabinet acknowledged the fiscal 2024 budget plans of state enterprises, which are expected to earn a net profit of 76.8 billion baht.
The meeting also acknowledged the preliminary forecast of operating trends for state enterprises during the period of 2025-27, with an average annual investment expected of 376 billion baht, and an average annual net profit estimated at 83.4 billion.