Thailand’s 157 billion baht stimulus scramble begins
Finance Ministry flagged duplicate, oversized, off-scope proposals amid funding scramble
Time is running out for government agencies to grab their slice of a massive 157 billion baht stimulus budget — and if they don’t move fast, the money disappears for good.
Today, June 18, Thailand’s Economic Stimulus Committee will review a long list of proposals from ministries scrambling to secure funding before the clock runs out on September 30. If the budget isn’t fully allocated by then, any leftover funds will be forfeited.
Deputy Finance Minister Paopoom Rojanasakul confirmed the deadline, but insisted that spending must be strategic, not rushed.
“It’s not necessary to approve the entire 157 billion baht. What’s important is that the money is used efficiently,” he said.
To qualify, proposed projects must fall within Cabinet guidelines, including infrastructure investment, domestic tourism promotion, export support, and local economic development.
But a source inside the Finance Ministry revealed a chaotic scramble behind the scenes, with several proposals reportedly falling outside the programme’s scope, being duplicated, or simply too large to be rolled out in time.
The Interior Ministry alone submitted a staggering 21,000 projects worth nearly 80 billion baht. Meanwhile, the Transport Ministry requested 80 billion baht for roads, rail and water infrastructure.
The Commerce Ministry put forward a 3 billion baht plan to support exporters hit by US tariffs, while the Tourism and Sports Ministry asked for 13 billion baht to revive the popular “Tiew Thai Khon La Khrueng” co-payment travel scheme and other initiatives. The Agriculture and Cooperatives Ministry also sought funds to support employment through the Royal Irrigation Department, reported Bangkok Post.
Paopoom also addressed global uncertainties, particularly the economic impact of escalating tensions between Israel and Iran.
“The government must continuously assess the situation. There are many variables at play.”
He noted that discussions are already underway with US authorities regarding tariff relief, and the outlook is “positive.”
At yesterday’s Cabinet meeting, economic updates from the Bank of Thailand and the Monetary Policy Committee were tabled. Following the reports, four key recommendations were made: tighten coordination between monetary and fiscal policies, manage inflation within target levels, ensure a fair exchange rate, and enhance credit flows to boost liquidity in the economy.
With billions on the line and only months left, the budget battle is officially on.
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