2024-08-19 23:16:00
“NESDB” prepares an economic stimulus plan for the new cabinet to stimulate the short-term economy. And prepare to apply for funds from the 2025 budget to prepare for the new situation of the trade war. And geopolitical issues reveal that digital wallets have an option, and if you don’t do one project, you can shift your budget to another.
- “NESDB” prepares economic stimulus plan for the new Phae Thong Than government cabinet.
- Point out that short-term economic stimulus is necessary to maintain purchasing power. We have to wait for the government to decide again on digital wallets.
- Prepare proposals to use 2025 budget funds. Prepare for new trade war scenarios. and geopolitical issues must be prepared
- Reveal Digital Wallet has an option where if you are not working on a project, you can transfer your budget to another one.
The Secretary-General of the National Economic and Social Development Board (NESDB), Mr. Danucha Pitchayanan, revealed that the NESDB is preparing to propose measures to stimulate the economy. Including supporting the economic uncertainty caused by the global economic situation. Looking ahead, Thailand’s economy may be affected by global geopolitical uncertainty and increased conflicts in the Middle East and elsewhere.
In addition, the situation after the US election is likely to trigger trade protectionism until a new round of trade war breaks out.
The NESDB will hold a meeting with the Ministry of Finance and the Bank of Thailand (BoT) to discuss what measures they will propose to the new government. As well as the appropriate time to take action to support the Thai economy, which will use some of the money from the 2025 spending budget, we must be ready and able to mobilize immediately if necessary.
“The measures that will be introduced must consider what tools and instruments are used. You have to look at the present. Measures may be taken in the first phase and then the situation will be assessed. First of all, including what the external impacts are like. Because budget resources are limited now . Fiscal space is only 6.5% because public debt is currently at 63.5%,” Mr Danucha said.
Including the need to look at the appropriate time period and quantity. Because if you are going to do an investment-related project, you have to be prepared for the project you are going to do. This way the money can go out quickly. This requires consultation with the government and the new cabinet, as well as the Ministry of Finance and the Bank of Thailand.
Digital wallet budget decided by new government
In order to stimulate the economy in the short term, NESDB believes that it is necessary to carry out projects that contribute to public consumption to help the economy recover in the short term. But in the next stage, if the economy is to grow, there must be investment.
As for the digital wallet project, will it help stimulate the Thai economy at the end of the year? Now it depends on the government’s new policies. Because when considering the budget limit for the 10,000 baht digital recharge project, especially the 2024 supplementary budget, the budget limit of 122 billion baht that has already passed the parliamentary review process must be determined by the government.
But if the government sees digital wallets it won’t go ahead. If this is the case, we must consider other measures. Help support the Thai economy during this time. Especially to help low-income people. I might have to talk. And what will the prime minister’s cabinet think when he sees it? But I personally think something has to be done. To help people get through this period
“I don’t know yet. But if there are changes we have to see what changes the government will make. Because there is another important condition for the original project, which is the source of funds to be used. The supplementary budget for 2024 has a The payout period,” Mr Danucha said.
As for the 2025 budget, it is ready to be used. We’ll have to see what impact it has. Another part of the project is the preparation of the various systems and it is necessary to look at how they are currently implemented. At the policy level, again we have to discuss the importance of that. Including listening to opinions from all sides.
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