Delay in 2021 budget set to affect investment

By The Nation

 

Dechapiwat Na Songkhla, director of the Budget Bureau

 

The Budget Bureau admitted that though the delay in the annual budget for fiscal 2021 will delay capital spending, it will have a limited impact on investment projects.

 

The bureau will on Tuesday (September 15) explain to the Cabinet why its spending plan for fiscal 2021 cannot be released on October 1 as scheduled, said Dechapiwat Na Songkhla, director of the Budget Bureau. 

 

According to the budget law, despite budget delay for the fiscal 2021, the government could spend Bt800 billion, or 25 per cent of the budget for fiscal 2020. So, it should have adequate funds to pay state officials and cover current spending until the end of the year, he said. 

 

However, he said, capital spending on some new investment projects may be delayed, while some state agencies have also been advised to put off expenditure on things such as overseas trips.

 

The Bt3.3-trillion budget bill will undergo its second and third reading in the House of Representatives on September 16-18 before being sent to the Senate on September 21 and then presented to His Majesty for approval. 

 

Earlier, Deputy Prime Minister Wissanu Krea-ngam said the budget will be about a month late.

 

In the fallout from Covid-19, the economy is projected to contract between 7 and 10 per cent this year. 

 

The last budget was also delayed for six months due to a delay in the formation of the coalition government after the 2019 general elections.

 

Source: https://www.nationthailand.com/business/30394531

 

-- © Copyright The Nation Thailand 2020-09-15

 

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But they have already said it would not affect anything, tell me more BS.  Oh wait they are having to empty there pockets out first, thats the delay, they have no room in which to stuff more cash  ????

 

8 minutes ago, webfact said:

while some state agencies have also been advised to put off expenditure on things such as overseas trips.

But,But.....

regards worgeordie

5 hours ago, webfact said:

In the fallout from Covid-19, the economy is projected to contract between 7 and 10 per cent this year. 

Considering they just said foreign tourism is 20% Thai GDP and they may have 2.5 million tourist based people unemployed adding to the million already unemployed, and exports are down 10-15%,I kinda think that a 7% contraction is about as likely me bumping in Bruce Lee, Elvis Presley and James Dean talking about the art if Da Vinci in modern architecture at my nearest McDonalds !

2 minutes ago, RichardColeman said:

Considering they just said foreign tourism is 20% Thai GDP and they may have 2.5 million tourist based people unemployed adding to the million already unemployed, and exports are down 10-15%,I kinda think that a 7% contraction is about as likely me bumping in Bruce Lee, Elvis Presley and James Dean talking about the art if Da Vinci in modern architecture at my nearest McDonalds !

The article that stated foreign tourism is 20% Thai GDP didn't provide any evidence on how they came to those numbers

World bank states international tourism is 9.82% of GDP

These are the countries most reliant on your tourism dollars

https://qz.com/1724042/the-countries-most-reliant-on-tourism-for-gdp/

7 hours ago, webfact said:

However, he said, capital spending on some new investment projects may be delayed, while some state agencies have also been advised to put off expenditure on things such as overseas trips.

When the "jollies" are being cut you know there's a problem.