Thailand's 2015 state budget based on NCPO strategies

BANGKOK, June 13 (TNA) - Government agencies have been ordered to work out their proposed budgets, to be endorsed and allocated by the Bureau of the Budget, in accordance with the Thai army-led National Council for Peace and Order (NCPO)'s strategic plans. Thai Army and NCPO Chief General Prayuth Chan-ocha made the instruction at a meeting with heads of government agencies in Bangkok on Friday morning. The order was made after the NCPO approved the draft 2.575 trillion-baht state budget expenditure for the 2015 fiscal year, which starts on October 1, 2014, an increase of 50 billion baht from the 2014 fiscal year, which ends on September 30, 2014. It is estimated that total state revenue for the 2015 fiscal year should stand around 2.325 trillion baht, leading to a budget deficit of about 250 billion baht for the 2015 fiscal year. Out of the total budget, which needs to be approved by a legislative assembly to be formed soon, about 450.6 billion baht, or 17.5 per cent, will be spent on public investment projects. Details on how the 2015 fiscal budget would be spent by government agencies would be forwarded to the NCPO chief for his initial approval by July 29, after that they will be sent to the newly-formed legislative assembly so that an extraordinary committee would be set up to consider the draft budget. It is expected that the 2015 fiscal state budget expenditure could sail through the legislative assembly timely for its implementation on October 1, 2014. The government agencies were also ordered to urgently implement eight programmes, including providing assistance to people, stimulating national economy and investment and restoring confidence in Thailand, creating reconciliation among people, preventing and suppressing corruption practices in the public sector, observing agreements under the ASEAN Community (AC) framework, developing necessary basic infrastructure projects, utilizing more research and development (R&D) programmes and urgently addressing problems and further developing the violence-plagued Thai far South. It is projected that Thailand should enjoy a 4 per cent economic growth in 2015.(TNA)