Thailand's Relief Program Phase 2 Gets Green Light With 40-50 Billion Baht Remaining
Thailand's relief program Phase 2 has conditional approval to proceed, with 40-50 billion baht remaining from the initial 200 billion baht budget allocated for stimulus spending.
At 11:50 a.m. on September 14 at Government House, Phradet Prisnanantkul, minister attached to the Prime Minister's Office overseeing the Bureau of the Budget, briefed reporters on progress of the Thailand help-Thailand plus phase 2 programme, stating that the first phase is set to wrap up by late September. The Finance Ministry is currently assessing the situation to determine if the programme should continue.
Regarding phase 2 funding, Phradet said that of the initial 200 billion baht borrowing authority, 40-50 billion baht still remains available for use. If the Finance Ministry determines it necessary to proceed, the government has sufficient funds. When pressed on whether the Prime Minister had already given the go-ahead, Phradet said the Premier gave approval in principle if the Finance Ministry sees fit and circumstances require it.
When asked whether funds must come solely from the borrowing decree or could be drawn from other sources, Phradet responded that the government has multiple budget pools, including the standard budget and the newly added 400 billion baht borrowing authority. Therefore, funds can be deployed as needed if the situation warrants it.
