Govt re-allocates Bt200 bn of fiscal 2020 budget to fight Covid-19, drought

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Govt re-allocates Bt200 bn of fiscal 2020 budget to fight Covid-19, drought

By The Nation

 

 

The Cabinet today (March 10) approved the Budget Bureau’s measures to mitigate the twin impact of Covid-19 and drought on the economy.

 

These measures require all government agencies to lower their budget spending by 10 per cent through operation adjustments, in order to procure products and services from local entrepreneurs, manufacturers, and contractors in the short term.

 

“Government agencies should also reconsider official overseas travel plans for conferences, seminars, and workshops to be held in the country, and make procurement here,” an official said.

 

“Meanwhile, they may have to postpone or suspend travel to high-risk countries for Covid-19 infection”. 

 

The official said a 10 per cent reduction in current expenditures would amount to Bt200 billion of the 2020 annual expenditure budget of Bt2.39 trillion.

 

The Cabinet has a policy to reduce investment in durable goods with a credit limit of less than Bt1 million or buildings with a credit limit of less than Bt10 million. 

 

“Government agencies should consider procuring other durable goods or buildings that help reduce the economic impact from the Covid-19 outbreak and drought,” the official said.

 

“Also, they should consider procuring durable goods from domestic manufacturers unless it is absolutely necessary to import the products”.

 

The Cabinet also approved a delay to the expenditure of the central budget and emergency reserve that was previously approved but not allocated by the Budget Bureau.

 

“If the allocation has been made but unable to perform the obligation or record the purchase order within March 10 this year, the government agencies should cancel the project and inform the Budget Bureau within March 13,” the official added.

 

Source: https://www.nationthailand.com/news/30383785

 

-- © Copyright The Nation Thailand 2020-03-10

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