BoT urges Govt to seek more income

BANGKOK (NNT) -- The Bank of Thailand (BoT) has suggested that the Government should seek greater revenue to make up with its spending and have adequate budget to further invest in basic facility projects.

BoT Domestic Economy Department Senior Director Suchart Sakkankosone stated that the Government should seek advantage from the improving economy by looking for additional sources of income like expanding tax base, which is not easy to do during the economic downturn.

Mr Suchart noted that the Government would need greater annual budget for its welfare policy and the official pay hike. Without additional revenue, the state budget would be dwindling and might be insufficient for future investment in basic facility projects. He said such a situation would adversely affect the competitiveness of the Thai business sector.

The director also advised that the Government take the lead in making investments in some businesses or areas that no one dared to take a risk in order to increase the private sector’s confidence in making long-term investment in Thailand.

Besides, Mr Suchart viewed as unimportant the recently announced decision of the Ministry of Finance to postpone the implementation of a balanced budget policy from 2014 to 2018. The planned delay is necessary to enable the government to fulfil debt repayments and close the state coffer.

-- NNT 2010-08-23

Who's going to be first to mention the exchange rate.

Who's going to be first to mention the exchange rate.

after you Sir!