NLA to put 2019 budget under the scanner

[webfact]

NLA to put 2019 budget under the scanner

By THE NATION

 

Prime Minister Prayut Chan-o-cha

 

THE National Legislative Assembly (NLA) will today deliberate the junta government’s fifth annual budget proposal, which earmarks total spending of Bt3 trillion for the 2019 fiscal year that begins on October 1.

 

Prime Minister Prayut Chan-o-cha will spend about two hours clarifying the new budget proposal that projects a deficit of Bt450 billion.

The 2019 budget is about Bt100 billion more than the previous year, bringing total state spending under the National Council for Peace and Order-backed government to Bt13.8 trillion.

 

In the 2019 budget, the Education Ministry gets the biggest allocation of Bt489 billion, followed by a central budget of Bt468 billion, the Interior Ministry gets Bt373 billion, the Finance Ministry Bt242 billion, and the Defence Ministry Bt227 billion.

 

The 2019 allocation for the Defence Ministry is Bt5.2 billion more than in the previous year, bringing total spending by the Armed Forces to Bt949 billion since the coup.

 

The Defence Ministry’s budget includes spending on military equipment and payment of instalments for Chinese-made submarines.

 

In addition, the Defence Ministry has signed a letter of confirmation to buy a number of satellites from the US, worth more than Bt90 billion.

 

Surachai Liangboonlertchai, first vice president of the NLA, said about 20 NLA members have signed up for time slots to debate the proposed budget while Cabinet members are required to respond to questions from the floor.

 

The debate, which is expected to finish in one day, will likely cover the national reform agenda as well as the government’s much-heralded Eastern Economic Corridor (EEC) investment programme.

 

The EEC project, which covers parts of Rayong, Chon Buri, and Chachoengsao provinces, is expected to attract massive public-private investment of up to Bt1.7 trillion over the next several years.

 

The EEC’s transport and other infrastructure projects include those for high-speed rail links to Suvarnabhumi, Don Muang, and U-tapao airports, as well as expansion of the Laem Chabang and Mab Ta Put seaports, while the private sector is expected to invest in a new generation of industries and businesses, including e-commerce and logistics, aviation and other sectors.

 

However, the government does not have the financial resources for investment, as seen in the proposed budget. Fixed expenditure for the next fiscal year amounts to Bt2.26 trillion, up 3.4 per cent from the previous year, and accounts for 75.4 per cent of the total budget, while investment spending totals Bt660 billion, accounting for 22 per cent of the total budget.

 

The 2019 budget includes Bt78 billion for debt repayment and new borrowings to finance the budget deficit of Bt450 billion.

 

Of the total budget, Bt838 billion is earmarked for the rebalancing and public sector reform agenda; Bt328 billion for national security, Bt406 billion for international competitiveness, Bt560 billion for human resource development, Bt397 billion for poverty reduction, and Bt117 billion for water resources management and sustainability.

 

Source: http://www.nationmultimedia.com/detail/politics/30347160

 

-- © Copyright The Nation 2018-06-07

[tracker1]

He forgot to mention Bringing more missery oh I mean Happiness to the People !

[nikmar]

"The 2019 allocation for the Defence Ministry is Bt5.2 billion more than in the previous year, bringing total spending by the Armed Forces to Bt949 billion since the coup."

 

 

“Because I am human. I am a man and I work for men, for Thailand, for Thai people. "     .....  'course you do mate!   

[Cadbury]

3 hours ago, webfact said:

THE National Legislative Assembly (NLA) will today deliberate

So the NLA is going to "deliberate"? The pretence of it all. Who do these fools think they are kidding.

The NLA is made up primarily of Generals who simply do as they are told by the PM. Or else!

 

 

[Srikcir]

9 hours ago, webfact said:

total spending of Bt3 trillion for the 2019 fiscal year

 

9 hours ago, webfact said:

The debate, which is expected to finish in one day

Why not do it during a lunch break? It's not like there's any opposition party to the Prayut regime. The usual 20 military officers will continue their approved absences anyways, there will be the traditional two nay votes and 178 yeas.

9 hours ago, webfact said:

The 2019 budget includes Bt78 billion for debt repayment

The beauty of foreign debt financing such as with the Chinese dual rail project, submarines, etc. is that while Prayut commits the nation to long-term loans (forbidden by caretaker governments), only the debt service for the next fiscal year need to be obligated. So the total debt for foreign debt financing isn't reflected in the budget.

9 hours ago, webfact said:

However, the government does not have the financial resources for investment, as seen in the proposed budget.

Which means more foreign debt financing and investment. While Thailand's debt to GDP is only moderate and can accommodate further debt, such debt is committed according to the juntas priorities and not to the representatives of the Thai electorate. When there comes an elected government that represents the Thai people, its budget priorities vis a vis debt financing will be constricted by the junta's priorities, not only for FY 2019 (ending September 31, 2019) but for the period of the junta's 20-Reform Plan. (note: while the Constitution requires adherence to the Junta's 20-year Reform Plan including adequate funding, it does not specify any end date)

[Eligius]

Of course this article is the usual insult to the intelligence.

 

By the way, do other posters and readers get - like me - sick and tired of reading 'Prime Minister Prayut said this; Prime Minister Prayut said that; Prime Minister Prayut said the other ...'? Why on earth don't the journalists here have the guts to indicate that he is NOT a legitimate P.M. and simply say: 'Prayut said this, Prayut said that'?

 

You see: this is a perfect example of where the Thais display no fight, no backbone, no grit, no guts - even in the tiniest, most symbolic things. They dare not even omit a fake title - let alone rise up in their MILLIONS to kick out a fake 'prime minister'!

 

Edited June 7, 2018 by Eligius

[smutcakes]

What is the central budget?

[Eligius]

31 minutes ago, smutcakes said:

What is the central budget?

The central budget is all those monies set aside to purchase diamond watches for Prawit - and his sticky-fingered buddies!

 

 

Edited June 7, 2018 by Eligius