October disbursement solid
The government got off to a good start as annual budget disbursement surpassed the target by almost 5% and investment budget disbursement fell short by a mere 1% in the first month of fiscal 2018.
During Oct 1-31, state agencies took out 413 billion baht, representing 14.3% of the 2.9-trillion-baht annual budget, said Nilobol Waewwabsri, deputy spokeswoman of the Comptroller-General’s Department.
Of the total disbursed budget, 381 billion baht was regular budget and the remaining 32.2 billion was investment budget.
The withdrawn regular budget accounted for 17% of the yearly regular budget of 2.24 trillion baht, exceeding the target by 6.9%.
Of the 286-billion-baht carry-over budget, 14.4 billion was drawn down in October, while contracts worth 192 billion or 67.4% of the carry-over budget have already been signed.
Mrs Nilubol said the ComptrollerGeneral’s Department will extradite 2018 budget disbursement.
The government has set a target of taking out 96% of the fiscal 2018 annual budget and 88% of the investment budget.
State spending has been the main driver of the country’s economic growth in recent years.
In other news, Prapas Kong-Ied, director-general of the Public Debt Management Office (PDMO), said the Finance Ministry will offer 15 billion baht worth of savings bonds from Nov 27, 2017 to March 30, 2018 as a way to broaden investment alternatives and enhance savings.
The savings bonds will be issued in three- and seven-year maturities. The three-year bonds will carry a coupon rate of 1.85% and the longer-dated notes a 2.45% rate. The minimum subscription is 1,000 baht, with no ceiling.
Interested parties can buy the savings bonds at branches, ATMs and internet channels of Bangkok Bank, Krungthai Bank, Kasikornbank and Siam Commercial Bank.
Subscribers must be Thai nationality or a Thai-based non-profit group.