Thailand's Four Key Agencies Preparing Fiscal Year 2017 Budget

BANGKOK, Nov 28 (TNA) – Thailand’s four key government agencies have been tasked to prepare government budget for 2017 fiscal year aimed at tackling six strategic sectors, said Somsak Chotrattanasiri, director of Budget Bureau. The four agencies are the Budget Bureau, the Finance Ministry, the Bank of Thailand and the National Economic and Social Development Board, said Mr. Somsak. All government agencies are requested to submit required budget for 2017 fiscal, starting from October 1, 2016 to September 30, 2017, to the Budget Bureau for its consideration within this December 18. The requested budget by the government-run agencies will then be forwarded to Prime Minister General Prayut Chan-ocha for his consideration a week later, said Mr. Somsak. He said the essential of the budget for fiscal 2017 must match with the government’s strategic investment and must avoid duplication. Government’s investment in fiscal 2017 is initially set at 20 per cent of the total budget, less than the current fiscal year which has a total budget of 2.27 trillion baht which has a budget investment of 540 billion baht and suffering from budget deficit of about 390 billion baht. According to the timetable, the four key agencies will have to submit the draft budget for fiscal 2017 to the cabinet for its consideration next April 12 before forwarding to the National Legislative Assembly for debate. Budget for fiscal 2017 is aimed at tackling six strategic sectors consisting of security, national competitiveness, development of human resources, solving poverty, environment and water management, and public sector management which includes corruption suppression.(TNA)