Thailand's investment budget disbursements seen below target in fiscal year 2015
[BANGKOK] Thailand's finance ministry said on Monday it expects disbursement of the investment budget for the fiscal year ending September 2015 to fall short of target.
"It is about 60 per cent now. We may end the current fiscal year in the region of 70 per cent as this is already a final month," Deputy Finance Minister Wisut Srisuphan told reporters.
The total budget for 2015 is 2.575 trillion baht (US$71.3 billion), with the portion for investment around 451 billion baht (US$12.49 billion), ministry data showed.
The ministry last week eased rules on budget approvals for small scale government projects to boost disbursements in the next fiscal year, Mr Wisut said.
Thailand's military government has said speedy government spending will help drive growth but disbursement of funds has been slow and big infrastructure projects have stalled.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
UK passport control hit by outage causing long waits at airports
Fed’s Kashkari says rates likely on hold for ‘extended period’
China’s Xi lands in Serbia after talking Ukraine, trade in France
Stormy Daniels details alleged sex with Trump at hush money trial
Indian vote body tells X to remove Modi party video targeting Muslims, opposition
Inflation-hit Argentina has a new top banknote, worth just US$10