Thursday, August 05, 2021

business

Thai govt has THB300 billion in hand to tackle Covid crisis until Sept 30


The government has THB240 billion left over from the THB1 trillion economic stimulus loan, plus THB60 billion from the 2020 emergency budget to deal with the Covid-19 crisis until September 30.

Last Wednesday (May 5), the Cabinet earmarked THB225.50 billion to tackle the third wave of Covid-19 infections, which has been more severe and more widespread than the previous two waves.

The money will be used to bolster several measures such as Rao Chana (We Win), Mor33 Rao Rak Kan (Section33 We Love Each Other), Khon La Khrueng (Let's Go Halves) as well deposits in the state welfare card to help ease people’s burden and stimulate the economy.

Budget Bureau director Dechapiwat Na Songkhla said the funds will help the government deal with the crisis until the end of the 2021 fiscal year on September 30.

He added that if the crisis continues into next year, the government can use the THB89 billion earmarked for the 2022 emergency budget as well as the Finance Ministry’s reserve capital of THB50 billion.

“If these funds are not enough, the government can issue a budget transfer act like it did last year,” he said.

He added that the THB3.1 trillion national budget for the 2022 fiscal year does not include funds for tackling the Covid-19 crisis, because the crisis is expected to be resolved by then.

“However, we will propose the budget draft to the Cabinet again on Tuesday,” he said.

He added that the government can also use revenue from its agencies as well as the Public-Private Partnership investment budget to boost capital expenditure, so it is in line with the 2018 State Fiscal and Financial Disciplines Act.

 

He also pointed out that the prime minister cannot allocate funds from the 2022 integrated budget of THB208 billion for tackling the outbreak because a panel chaired by his deputies is responsible for the usage of this budget.

Published : May 10, 2021

By : The Nation