PM presents 2017 fiscal year’s budget bill to the NLA



BANGKOK: -- Prime Minister Prayut Chan-ocha spent about three hours today (Thursday) elaborating the gist of the 2.7 trillion baht budget bill for 2017 fiscal year to members of the National Legislative Assembly.

In his lengthy address, the prime minister pointed out at the need of the country to have a national strategy for national administration, saying that never before Thailand has had a national strategy.

He explained that the national strategy would outline what the government will have to do but whether the government will do it or not will depend on the government itself because it was elected by the people.

The budget bill, said the prime minister, is a tool of the government to effect reforms and to drive the engine to implement government policies and strategies.

Touching on the state of the economy this year, he said that the growth rate for his year was expected to be 3-3.5 percent which is an improvement from a year earlier largely due to government investments in mega-infrastructure projects, increased tourism revenue coupled with low oil prices.

However, he noted that there are risk factors and restrictions to economic growth, citing slow global economic recovery, fluctuations in key currencies and the tightening up of credit extensions by financial institutes.

He is optimistic that growth rate for next year will range from 3.7-4.2 percent citing anticipated improvement in export sector and progress in the development of infrastructure projects.

However, the prime minister warned that whether the country would prosper and whether the economy would perform better next year would depend on the government’s stability, peace and order in the country.

Source: http://englishnews.thaipbs.or.th/169833-2/

-- Thai PBS 2016-06-24

NLA unanimously passes budget bill for 2017 fiscal year

BANGKOK: -- The National Legislative Assembly unanimously passed the first reading of the 2017 fiscal year’s 2.7 trillion baht budget bill and set up a 50-member committee to scrutinize the bill within 90 days.

Altogether 189 NLA members voted in support of the bill with three abstentions.

The debate on the budget bill went on smoothly with most legislators who took to the floor to join the debate voiced support for the bill.

Mr Somboon Ngamlak, for instance, said that the budget bill for 2017 fiscal year was unique in a way that it has mechanism for fiscal discipline; it seeks to increase research budget by an addition of 10 billion baht.

Mr Siripol Yodmuangcharoen noted that the budget bill adopted HM the King’s sufficiency economy and clearly set national strategy in six aspects.

After the debate, Prime Minister Prayut Chan-ocha said that, in preparing the budget, the government took note of previous experiences regarding strategies and took into consideration the priorities of the problems and the 20-year development plan.

Source: http://englishnews.thaipbs.or.th/nla-unanimously-passes-budget-bill-2017-fiscal-year/


-- Thai PBS 2016-06-24

This headline, ....

PM presents 2017 fiscal year’s budget bill to the NLA

Followed by this headline...

NLA unanimously passes budget bill for 2017 fiscal year

explains perfectly the true nature of our current "government"...

Edited June 23, 201610 yr by tbthailand

The good news today is that Brexit provides the perfect excuse if (when?) all graphs continue to resemble Himalayan ski slopes.

Prayuth thinks...

All the puppets he appointed, act.

W

whether the government will do it or not will depend on the government itself because it was elected by the people

This budget will cover the next fiscal year October 1, 2016-September 31, 2017. If the Junta roadmap is unchanged (ie., draft charter approved in August), the next elected government might be installed on October 1, 2017.

So the next elected government will be unable to alter Prayut's budgets until after FYE 2017 and more likely the fiscal year following or FYE 2018. But Prayut will continue to hold power under Article 44 until the new government is sworn in. He could then for whatever reason legally delay or nullify installation of the next elected government. That would allow Prayut to continue his control of the budget process until the time of his chosing.

Nothing will depend on an elected government in the future and that's not a coincidence.

Being a member of the rubber stamp NLA must be an easy job. Just take a nap each day with your head resting on the YES button.

3 hours?

3 HOURS?

Jesus... lets hope he doesn't feel the need to repeat it on Friday... I can't laugh for 3 hours... not possible.

W

Tourism revenue has been increasing? have they, will oil prices stay low. Im sure there will be changes through the year