Budget discussion live in congress
PUBLISHED: 19 Jun 2024 at 17: 14
As the macroeconomic 2025 Budget Bill discussion arose in parliament on Wednesday, the criticism warned the government of the high financial risk of excessive loans, mainly due to the planned 500 billion baht online income handout.
Criticism and Move Forward Party chief Chaithawat Tulathon said the 3.75- trillion- baht budget tabled in parliament by the excellent minister , included 865- billion- baht in borrowing, which almost reached the borrowing ceiling of the government.
The state would have little room for further loans, just 5 billion baht. Planned borrowing for fiscal 2025 was off 7.8 % on the past year, the biggest increase in 10 years, Mr Chaithawat said.
” If the government needs to make an immediate payment or make a significant investment in the future, the burden on the government will become heavier and the economic room left to the government may shrink,” he said.
The president’s president claimed that because the budget bill included money that was spent on the government’s digital wallet handbook, it posed financial risks. The one-time pay, which came from the president’s contingency fund, was referred to as spending for economic growth and development, he said.
“Economic return may be dependent solely on the growth of short-term consumption,” the statement goes. This investing does not match the regional condition”, Mr Chaithawat said.
” The budget allocation is the riskiest… The’ Ignite Thailand ‘ plan turns out to be Ignore Thailand”, he said.
Jurin Laksanawisit, the leader of the Democratic Party, predicted that the digital wallet initiative would boost public debt. The state reportedly cut spending in governmental 2024 to allow for the digital budget plan.
He claimed that this spending policy may restrict the growth of the gross domestic product this year.
Prime Minister Srettha stated in his introduction that the 2025 expenditure was intended to see the country’s economy grow at its fastest, in line with the government’s plan to” Burn Thailand.”
He claimed that the 10,000-baht digital wallet flyer may reach 50 million recipients later this year and support the economy at the local level.
The nation’s foreign reserves, which were totaling US$ 224.48 billion as of December 31, 2023, were reported by the prime minister as being materially sound.
The 2025 resources included 908.22 billion ringgit in funding, which formed 24.2 % of the total expenditure and was the highest levels substantially in 17 times, Mr Srettha said.
Opposition head Chaithawat Tulathon speaks in the House of Representatives , on Wednesday. ( Photo: Chanat Katanyu )