The Thai government under new Prime Minister Paetongtarn Shinawatra is preparing to use more than 300 billion baht to stimulate the country’s economy, according to a Government House source.
The budget will come from three main sources:
1. The Additional Budget Expenditure Act for fiscal year 2024, which allocates 122 billion baht to funding the government’s handout under digital wallet scheme, which is now waiting to be enacted.
2. The draft of the fiscal 2025 budget, from which the previous government earmarked 152 billion baht for economic stimulation.
3. The central budget for emergency expenses under the fiscal 2024 budget, which the previous government had earmarked at 40 to 50 billion baht, which must be approved and disbursed before the fiscal year ends in September.
Chalermphol Pensoot, director-general of the Budget Bureau, says that the preparation of fiscal 2025 budget is currently in the 2nd and 3rd reading phase by the House ad-hoc committee, and should be ready for enactment before 1 October.
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