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2020 budget reasonable for country development: PM

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2020 budget reasonable for country development: PM

 

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BANGKOK (NNT) - The Prime Minister has clarified the making of the 2020 fiscal year budget bill, proposing a total of 3.2 trillion baht government budget.

 

Prime Minister Gen Prayut Chan-o-cha has made an announcement elaborating the planning of 3.2 trillion baht 2020 fiscal year budget bill that this budget will serve as an important tool to push forward country development in compliance with national strategies and government’s policies on the elimination of inequalities and enhancing the people’s livelihood, appropriate to the current economic and social situations.

 

The proposed budget bill asks for 469 billion baht budget deficit, which the government has confirmed it will ensure all budget activities will stay within the public debt management framework and fiscal discipline for maximum benefits. All government agencies are required to make clear spending plans which corresponds to the strategic blueprints, the 12th National Economic and Social Development Plan, and the country’s vision, and upholding to the general public’s benefits.

 

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The Prime Minister has ensured the disbursement of planned budget will help with economic development, as well as reinforcing national security, as national security is a foundation for development in all aspects, and preventing disasters faced by the general public.

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PM asks MPs to view national budget and government works as a whole

 

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Prime Minister Prayut Chan-o-cha asked all MPs, as he presented the 3.2 trillion baht budget bill for 2020 fiscal year to the House of Representatives this morning (Thursday), not to just look at the budgets allocated to each ministry, but to consider the details of the work and projects to be undertaken by each, so they get an overall picture.

 

Noting that the 2020 budget is a deficit budget, with expected revenue for the whole year estimated at about 2.74 trillion baht and a shortfall of 469 billion baht, the Prime Minister explained that the budget bill was drawn up anticipating that Thailand’s economic growth rate next year will be between 3% and 4% and inflation kept between 0.8% and 1.8%.

 

In preparing the budget, he said the government had placed importance on efforts to drive national strategies, its master plans and policies to raise people’s quality of life, narrow the wealth gap, strengthen the domestic economy and improve the country’s competitiveness.

 

Full story: https://www.thaipbsworld.com/pm-asks-mps-to-view-national-budget-and-government-works-as-a-whole/

 

 
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2 hours ago, webfact said:

PM asks MPs to view national budget and government works as a whole

Don't look at the details.  That will just waste time and cause arguments.  It is irresponsible not to look at it in detail.   Everyday, he just says they worst things imaginable. 

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2 hours ago, webfact said:

corresponds to the strategic blueprints, the 12th National Economic and Social Development Plan, and the country’s vision, and upholding to the general public’s benefits.

idle generalities, adding up to nothing

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Thailand was urged by the IMF and World Bank to operate a deficit budget so as to develop infrastructure and boost spending in country, it's not something they typically have done for a long time. I read an analyst report on Thailand recently where it said the country had learned its lesson from the crash of 97 too well: despite budget surpluses every year; despite large trade surplus every month and a positive current account every year; despite record levels of foreign currency reserves, despite record numbers of tourists and unemployment under 4%, the country still tightly controls spending and behaves as though the next crash is always right around the corner.

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2 hours ago, cornishcarlos said:
2 hours ago, webfact said:

its master plans and policies to raise people’s quality of life

Which people ??

Which people: The government. Not sure if that should be 'witch people' as they're so evil, or 'wich people' as spoken by someone with a lisp - describing the same corrupt group.

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3 minutes ago, bluesofa said:

An interesting link.

It's actually lower than two neighbouring countries and higher than the other two neighbouring countries.

 

I'm not an expert, but I would have thought that the amount spent should be consistent with the 'perceived' risk - if so are the Thai military expecting war with Myanmar or Cambodia?

Risks change, year on year, keeping the numbers up is a reasonable deterrent.

Edited by saengd
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1 hour ago, mikebell said:

How is possible that the budget is 'responsible' when so much is spent on the military?

Who have they got in mind for the military buildup to be used against.

Submarines, tanks , personal  carriers.

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