Thai junta to manage state coffer for maximum benefit

BANGKOK, August 18 (TNA) - Thailand's army-led National Council for Peace and Order (NCPO) has promised to manage the state coffer appropriately to guarantee its maximum benefit. Thai Army and NCPO Chief General Prayuth Chan-ocha made the pledge at the second convention of the National Legislative Assembly (NLA), held at Bangkok's Parliament building on Monday, reporting that Thailand now has about 333.43 billion baht in the state coffer. General Prayuth also confirmed, when presenting the fiscal 2015 budget bill to the NLA, that the 2014 state budget, which begins on October 1, 2014, gets along with Thailand's present 11th National Economic and Social Development Plan and other master plans for the sake of comprehensive efficiency. Besides, General Prayuth said, the 2015 state budget prioritizes the public interest based on the Sufficiency Economy Principle initiated by His Majesty King Bhumibol Adulyadej. The NCPO chief revealed that he has set up committees to integrate work of different ministries, acknowledging the junta is well aware that national revenue collection might not increase significantly due to a slowdown of the national economic recovery and impacts from the implementation of tax measures to enhance national competitiveness, reduce inequality in the society and stimulate the national economy. According to the NCPO chief, Thailand's 2015 budget was, thus, set at 2.575 trillion baht, 50 billion baht or 2 per cent higher than the 2014 state budget, with an official borrowing of 250 billion baht set to make up the deficit budget. (TNA)