According to Setha, the trigger digital wallet plan will help the economy that is in urgent need of it.
PUBLISHED: 17 Jul 2024 at 20: 38
Prime Minister Srettha Thavisin said on Wednesday that it is crucial to increase the 2024 governmental resources by 122 billion ringgit in order to boost the economy. He also suggested that the House should consider passing a supplementary budget expenses to support the implementation of the digital wallet plan.
The criticism events, however, said they would vote against the bill because it raised constitutional issues, including potential violations of the State Fiscal and Financial Discipline Act.
According to Mr. Srettha, extra funding is urgently required to improve economic activity, maintain use levels, and foster company opportunities for both individuals and the business sector.
The Pheu Thai Party’s signature policy is to begin in October with the distribution of 10,000 baht in modern cash starting on August 1. Registration will open on August 1.
Mr. Srettha had made the decision to improve the 2024 finances by 122 billion baht in order to fund the flyer and address the slow economy more quickly because he claimed the government could not wait for the 2025 fiscal budget to be released in October.
Of the amount proposed, 10 billion baht would come from tax revenue and 112 billion from a loan, he said, noting the increase would raise investment spending in the 2024 budget from 17.1 % to to 22.4 %.
He told the House,” The money may be spent through the digital wallet flyer, and you can be assured that the paying plan is in line with the State Fiscal and Financial Discipline Act.”
The economy is forecast to develop 2-3 % this time due to increased spending, people investment, the restoration of the hospitality and service industries and through trade development, he said. However, he acknowledged risks and limitations owing to higher home loan, business business debt, as well as the dangerous worldwide economic situation.
According to Mr. Srettha, the nation’s financial situation is stable, with a 394 billion bass Treasury harmony as of May 31 and a public debt that was 63.8 % of the country’s GDP as of April 30 this year.
The government” does striktly adhere to fiscal and monetary control and make sure the money is spent wisely to boost the economy and promote green growth,” he said.
The request for additional cash for the online bag, according to Sirikanya Tansakul, the deputy chief of the opposition’s Move Forward Party, could be infringe upon provisions of the State Fiscal and Financial Discipline Act.
According to her, the supplementary budget must be distributed by the end of the fiscal year, which is by Sept. 30. But, the 10, 000-baht handbook is expected in the last quarter of this year.
She claimed that the registration date of Aug. 1 should not be viewed as initiating debt obligations to defend a pause in the budget’s release.
Ms. Sirikanya questioned whether the digital wallet plan qualifies as expense spending and whether some agencies may try to follow suit if they are unable to receive funds before the fiscal year ends.