NLA approves B150bn supplementary budget

NLA approves B150bn supplementary budget

The National Legislative Assembly has voted 183-0 to pass a 150-billion-baht supplementary expenditure budget for fiscal 2018 ending in October.

Of the total supplementary budget, 67%, or 100 billion baht, will be additional expenses for state agencies and state enterprises while 49.6 billion will go to repaying Treasury reserve.

Finance Minister Somkid Jatusripitak told the NLA the extra spending would focus on strengthening the economy.

Some 24 billion baht will go to restructuring farm production while 76 billion baht will create career opportunities and employment in the provinces.

"We forecast the economy would expand in a range between 3.6% and 4.6% from 3.9% in the previous year, he said.

A breakdown by ministry shows the lion's share goes to the Interior Ministry (31.9 billion baht), followed by Agriculture (22.7 billion baht), Labour (2.1 billion), Industry (498.6 million), Commerce (258.4 million), Tourism and Sports (106.3 million), Natural Resources and the Environment (72 million baht), Culture (68.1 million) and Finance (5.3 million baht).   

Some 4.6 billion baht will add to the contingency budget at the disposal of the government, while state enterprises were allocated 4 billion baht and funds and revolving funds get 34 billion baht.

A supplementary or mid-year expenditure budget can be prepared if the government views revenue, mainly tax collections, would exceed expenditures in that year.

 

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