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Bangkok Post
Bangkok Post
Business
WICHIT CHANTANUSORNSIRI

92% of budget paid this year

The budget disbursement rate for fiscal 2018 was 92%, worth 2.67 trillion baht, says the Comptroller-General's Department.

Such disbursement rate was lower than in fiscal 2017, where the rate registered at 94.6%, said spokeswoman Yanee Sangsrichun.

The total value of the fiscal 2018 budget was worth 2.9 trillion baht.

The government's fiscal year starts on Oct 1 and ends at the end of September.

Budget disbursement for public investment was logged at 373 billion baht, or 56.5% of total investment disbursement sum of 659.8 billion, down from 65.9% from investment disbursement of fiscal 2017.

Tied-over budget for fiscal 2018 was disbursed at 215 billion baht, or 66.4% of the sum of 323.95 billion.

For fiscal 2019, the department has been accelerating the process of trying to explain the law related to fiscal budget disbursement, intending for state agencies to properly comply and facilitate disbursement procedures, said Ms Yanee.

A faster pace of budget disbursement will help the government budget to move faster into the economic system, she said.

Each state agency will set up its own unit to monitor, track and report problems associated with the budget disbursement process, aiming to resolve the problems in a timely manner and help stimulate Thailand's economic growth, said Ms Yanee.

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