#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/econ/40019319

---

Finance Minister Arkhom Termpittayapaisith said that the country can still achieve its growth target of 3.5 per cent, but government agencies must start budget spending for fiscal 2023 in October.

Speaking to reporters after making a speech at “Thailand Focus 2022” business forum on Wednesday, Arkhom said economic growth of 3.5 per cent was achievable depending on four factors: tourism, exports, domestic spending by consumers, and investments, especially by government agencies.

Arkhom said the fiscal 2023 budget bill has cleared the House of Representatives, so he has instructed government agencies to start making preparations to spend the budget for the first quarter — from October to December — of fiscal 2023. The budget bill is expected to be endorsed by the Senate soon.

“I’ve told government agencies to speed up spending on small investment projects by calling bids for construction or purchasing projects while waiting for the budget bill to take effect,” Arkhom said.

He said early invitations for bids would ensure that the contracts for such projects could be signed in time by October so that the budget would be injected into the economy as soon as possible, instead of being concentrated in the last quarter of the fiscal year like what happened in the past.

Arkhom said he had set a target that 25 per cent of the budget for fiscal 2023 should be spent within the first quarter.

Arkhom said the government would speed up investment projects in the Eastern Economic Corridor after the administration had signed contracts for several projects.

The finance minister said about 8 to 10 million foreign tourists would visit Thailand this year, or about one-fourth of the pre-Covid pandemic level.

He said the country’s exports expanded by 12 per cent during the first six months of this year, which was higher than the target thanks in part to the weakening baht. He said the government had earlier set the export target growth at 10 per cent.

He added that the government has tried to stimulate consumer spending by approving the fifth phase of the Kon La Khrueng co-payment scheme, Arkhom added.

Arkhom said he and the Bank of Thailand governor had assured investors during the business forum that the country still enjoyed financial stability.

He said the country’s public debt was within the ceiling of 70 per cent of GDP. Currently, public debt stood at 61 per cent of GDP but once the economic figures improved late this year, the ratio of the country’s public debt to GDP would decline, Arkhom added.

He said public debt based on foreign loans was only 1.79 per cent of all public debt although the law allowed the ratio to be 10 per cent.

Speaking to reporters before the Constitutional Court suspended Prime Minister Prayut Chan-o-cha from duty pending deliberations on the constitutional limit on the PM’s tenure, Arkhom said the court ruling would not affect the country’s credibility in the eyes of foreign investors.

He explained that all major investment projects have been started and committed in the span of several budget years so the country’s development and growth would continue with stability.

Published : August 24, 2022