PUBLISHED : 31 Jul 2024 at 05:05
In a significant development, Budget Bureau director Chaloempol Pensut confirmed that the government will allocate funds from the fiscal year 2025 budget for its ambitious 10,000-baht digital wallet initiative. This announcement comes as a response to concerns raised by the Move Forward Party (MFP) regarding the scheme’s impact on economic growth.
The MFP previously criticized the government for not clarifying the funding sources for the scheme from the fiscal year 2025 budget. However, Chaloempol stated that expenditures for 2025 could be provided, particularly by reallocating funds from canceled projects.
He emphasized adherence to fiscal management practices as outlined in the recent Budgetary Transmission Act, which supports the budgetary needs tied to the initiative. The government aims to utilize a total of 450 billion baht for the digital wallet scheme, sourced from the budgets of both fiscal years 2024 and 2025.
Specifically, this comprises 160 billion baht from FY 2024 — including 122 billion baht from the Additional Budget Act and an additional 40 billion baht from spending reductions. Furthermore, 285 billion baht will be drawn from FY 2025, with 152.7 billion baht sourced from the annual budget and 132.3 billion baht from further budget cuts.
Looking ahead, Chaloempol indicated that modifications to next year’s fiscal budget, including potential supplementary funding, will be determined by the government’s situational needs.
Additionally, a supplementary bill proposing a 122 billion baht budget increase for the current fiscal year is set for its second and third readings in the House. Prime Minister Srettha Thavisin reassured that the supplementary bill’s procedures are transparent and comply with all relevant legal requirements.
Deputy Finance Minister Julapun Amornvivat confirmed that the distribution of the digital wallet handout is scheduled for the end of this year, expressing confidence in the legal processes and the progress of the necessary bill amendments.
