39% of Q3 investment budget spent
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39% of Q3 investment budget spent

Faster disbursement measures pay off

The disbursement of the government's investment budget in the third quarter of this fiscal year has reached almost 40%, nearly double the set target thanks to the accelerated disbursement measures, according to Finance Minister Pichai Chunhavajira.

Speaking after a meeting of the Budget Disbursement and Public Spending Acceleration Committee, which he chaired, Mr Pichai said that the acceleration of the government investment budget has enabled funds to circulate more rapidly in the economy.

In the remaining three months of this fiscal year, efforts will be made to expedite the investment budget disbursement by government agencies to meet the target of 70% of the 850 billion baht budget, he said.

The meeting was held yesterday at the Finance Ministry, and over 20 agencies, such as the Comptroller General's Department, the State Enterprise Policy Office (Sepo), and various ministries, attended.

Mr Pichai said that investment projects are spread across various agencies, and some require coordination with local administrative organisations to resolve operational issues.

He also emphasised that public sector procurement must adhere to principles of righteousness, appropriateness, transparency, and compliance with the law.

Patricia Mongkhonvanit, director-general of the Comptroller General's Department, said that the disbursement target for the third quarter was set at 21%, but so far, 38.6% has already been achieved.

Nevertheless, some agencies are still behind schedule, and the finance minister has ordered them to explain the delays.

According to Mrs Patricia, the current focus is on expediting disbursement for government agencies and provincial clusters that have not met their targets. About ten ministries are lagging, and the meeting prioritised key ministries with projects exceeding 10 billion baht.

These ministries are required to report back to the Comptroller General's Department within a week, especially the Interior Ministry, which oversees all provincial clusters, to ensure prompt disbursement.

She mentioned that most ministries with delayed investment budget disbursements are still in the procurement process, and have not signed contracts, with certain ministries facing issues accessing project sites or needing approval for project changes from the Budget Bureau. The meeting urged these ministries to expedite their respective departments to meet the disbursement targets.

Tibordee Wattanakul, Sepo's director-general, said that for state enterprise investment budgets, which total 257 billion baht in fiscal 2024, his office aims for disbursement of no less than 95% of the total investment budget. As of February, 51% has been disbursed, higher than the 38% in the previous year.

Mr Tibordee said the finance minister had urged all state enterprises and key ministries to speed up.

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