The Budget Bureau has allocated a total of 87.36 billion baht to fund 148 economic stimulus projects, according to Theerarak Saengsanit, deputy permanent secretary for finance.
The allocation accounts for 75.72% of the 115 billion baht stimulus budget approved by the cabinet in June.
The cabinet had earlier approved the 115 billion baht tranche based on the proposal of the economic stimulus policy committee. This forms part of the broader 157 billion baht stimulus package encompassing a total of 481 projects aimed at revitalising the economy.
Mr Theerarak said that the objective of these projects is to boost short-term economic activity. With about two months remaining in the fiscal year for procurement processes, he urged all agencies with cabinet-approved projects to expedite implementation.
“Agencies must proceed promptly with procurement in order to ensure disbursement in line with planned timelines. This will help generate employment and stimulate economic expansion as intended,” he said.
To ensure effective oversight and implementation of the stimulus initiatives, the subcommittee on economic stimulus monitoring will convene monthly to track progress.
A dedicated dashboard, titled “economic acceleration plan under the 157 billion baht framework”, will be used as the main tool for monitoring and reporting to the economic stimulus policy committee.
Meanwhile, Finance Minister Pichai Chunhavajira said that Thailand has already submitted its full set of proposals concerning trade negotiations to the United States.
“The United States is now carefully reviewing the documents we’ve provided, which include revised terms as well as responses to specific issues they had asked us to clarify,” he said.
When asked how many product categories Thailand has offered a 0% tariff rate to the US, Mr Pichai declined to give details, saying: “It would be inappropriate to discuss this publicly, as it could affect domestic industries involved.”
However, he added that once the government reaches a final agreement with the US, the deal will be subject to parliamentary approval before it can be implemented.
credit : https://www.bangkokpost.com/business/general/3075684/budget-bureau-allocates-b87-36bn-for-stimulus-projects
