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Deputy NRSA head says 2018 budget in line with Thailand 4.0 goals


webfact

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Deputy NRSA head says 2018 budget in line with Thailand 4.0 goals

 

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BANGKOK, 13 June 2017 (NNT) – The deputy chairman of the National Reform Steering Assembly (NRSA) has affirmed the recently passed fiscal 2018 central budget is responsive to the needs of the Thailand 4.0 agenda. 

Deputy Chairman of the NRSA Alongkorn Polabutr has commented that the 2.9 trillion baht fiscal budget for 2018, which passed its first reading in the legislature last week, marked a stark change in how budgets have been assembled over the past 10 years because it is based on reform plans necessary for the Thailand 4.0 goal. He elaborated that the concept behind the budget was three dimensional restructuring of state spending. The three dimensions include state missions, reform agendas and local development. 

Alongkorn pointed out the new budget is only 74 percent of its preceding plan but boasts 23 percent more investment, most of which is to be done through public-private partnerships and the Thailand Fund. All together the spending will accelerate infrastructure development while not raising public debt from its current rate of 42 percent of the GDP. 

Nonetheless, the deputy chairman acknowledged that transparent spending of the budget and good governance will decide its efficacy. To ensure these aspects take place, the government will be utilizing new purchasing and employment approaches while also encouraging greater public oversight by providing information on all of its undertakings.

 
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-- nnt 2017-06-13

 

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"Alongkorn pointed out the new budget is only 74 percent of its preceding plan..."

 

As they cannot show true budget decrease, they show now imaginary budget decrease! "We spend a lot of money, but it is only 74% of what we could have spent!"

:smile:

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7 hours ago, webfact said:

the concept behind the budget was three dimensional restructuring of state spending. The three dimensions include state missions, reform agendas and local development. 

No, it's fourth dimensional - more debt.

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