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Thai PM calls on state agencies to disburse allocated funds quickly to revive economy

Maya Taylor

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PHOTO: Facebook/ Prayut Chan-o-cha

The Thai PM is calling on state agencies to inject funds into the economy for the new fiscal year in October, in order to help its recovery. According to a Bangkok Post report, deputy government spokesperson Traisuree Taisaranakul says budget spending is vital to the revival of an economy decimated by Covid-19.

“In light of the pandemic, the state budget provides an important impetus to move the economy forward.”

The PM says state agencies play a significant role in the disbursement of funds that will stimulate the economy. State agency budgets come from general spending, the central government fund, and the trillion-baht Covid-19 loan, which was the first Covid-19 relief loan taken out by the government last year. Parliament then approved another 500-billion-baht loan earlier this year.

The government says the loans are being used to continue relief and pandemic aid projects, with 269 projects already approved, at a cost of 996 billion baht. However, according to the Bangkok Post report, the funds disbursed for the projects total 841 billion baht. It’s reported that 684 billion baht of the funding went to 20 projects aimed at compensating those who’ve lost personal income or had their income reduced as a result of Covid-19, as well as providing aid to farmers and other groups.

SOURCE: Bangkok Post

 

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A seasoned writer, with a degree in Creative Writing. Over ten years' experience in producing blog and magazine articles, news reports and website content.

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