State investment outlay inches closer to 100%

The state investment budget for fiscal 2021 was almost fully disbursed, according to Kulaya Tantitemit, director-general of the ComptrollerGeneral’s Department.

At the end of fiscal 2021 on Sept 30, the disbursement was 3.249 trillion baht, representing 98.9% of the total budget.

State budget disbursement is one key factor to move the economy forward, especially when the country is sputtering from the impact of the pandemic, she said.

Of the total, 2.652 trillion baht was expenditure disbursement, accounting for 98.9% of total expenditure.

Disbursement of the investment budget was 596 billion baht, representing 98.8% of the total investment budget.

Disbursement of the carry-over budget from previous fiscal years was 202 billion baht, or 99.1% of the total carry-over budget.

Ms Kulaya said in fiscal 2022 the department plans to continue improving its performance efficiency and revising rules to facilitate the operations of related agencies, in line with changing circumstances.

She said the department wants to deploy more digital technologies to strengthen its operations, including enhancing its data security system.

Recently the budget disbursement rules were amended, allowing state agencies to disburse unused investment funds for projects in a later fiscal year if they sign contracts with contractors for those projects within the fiscal year when the investment budget was allotted. If this condition is not met, the budget for the projects is cancelled.

In past years if state agencies failed to disburse the investment budget in a fiscal year, they could ask for government permission to keep such budget for disbursement the following fiscal year.