Domestic Tourism Funding Proposals Set for Review by Economic Stimulus Committee
The Economic Stimulus Committee prepares to evaluate proposed projects amid an allocated budget of 157 billion baht.
Proposals aiming for funding from a special stimulus budget of 157 billion baht are scheduled for presentation before the Economic Stimulus Committee on Wednesday.
Deputy Finance Minister Paopoom Rojanasakul indicated that if the complete budget is not approved by September 30 this year, any remaining funds will be forfeited, as they cannot be earmarked for future use.
He emphasized that while it is not necessary to approve the full allocation, efficiency in the use of these funds remains paramount.
The proposals under consideration must align with the framework provided by the cabinet, which includes investments in infrastructure, domestic tourism promotion, export support, and community economic initiatives.
An anonymous source from the Finance Ministry revealed that many of the submitted proposals either do not meet the objectives of the stimulus program or are overly ambitious for short-term implementation.
Among the proposals, the Interior Ministry has outlined a budget comprising 21,000 projects valued at 79.9 billion baht, while the Transport Ministry has requested an allocation of 80 billion baht for road repairs, construction projects, rail systems, and water infrastructure improvements.
Additionally, the Commerce Ministry has proposed 3 billion baht aimed at stimulating the export sector and providing support to entrepreneurs impacted by US tariff policies.
The Tourism and Sports Ministry has recommended a budget of 13 billion baht to extend the 'Tiew Thai Khon La Khrueng' co-payment scheme and other related initiatives.
Furthermore, the Agriculture and Cooperatives Ministry has introduced employment projects linked to the Royal Irrigation Department.
In comments regarding the broader economic landscape, particularly the implications of the Israel-Iran conflict, Mr. Paopoom stated that the government must consistently evaluate the economic situation influenced by various global factors.
He also addressed the need for ongoing assessments of the effects stemming from US tariff measures, acknowledging that negotiations with the US have commenced with a favorable outlook.
During Tuesday's cabinet meeting, semi-annual reports from the Bank of Thailand and the Monetary Policy Committee were reviewed.
In light of these reports, the cabinet proposed four key strategies: enhancing coordination between fiscal and monetary policies, managing inflation to remain within the target range, ensuring an appropriate exchange rate, and examining the credit system to promote liquidity and economic stimulation.
Deputy Finance Minister Paopoom Rojanasakul indicated that if the complete budget is not approved by September 30 this year, any remaining funds will be forfeited, as they cannot be earmarked for future use.
He emphasized that while it is not necessary to approve the full allocation, efficiency in the use of these funds remains paramount.
The proposals under consideration must align with the framework provided by the cabinet, which includes investments in infrastructure, domestic tourism promotion, export support, and community economic initiatives.
An anonymous source from the Finance Ministry revealed that many of the submitted proposals either do not meet the objectives of the stimulus program or are overly ambitious for short-term implementation.
Among the proposals, the Interior Ministry has outlined a budget comprising 21,000 projects valued at 79.9 billion baht, while the Transport Ministry has requested an allocation of 80 billion baht for road repairs, construction projects, rail systems, and water infrastructure improvements.
Additionally, the Commerce Ministry has proposed 3 billion baht aimed at stimulating the export sector and providing support to entrepreneurs impacted by US tariff policies.
The Tourism and Sports Ministry has recommended a budget of 13 billion baht to extend the 'Tiew Thai Khon La Khrueng' co-payment scheme and other related initiatives.
Furthermore, the Agriculture and Cooperatives Ministry has introduced employment projects linked to the Royal Irrigation Department.
In comments regarding the broader economic landscape, particularly the implications of the Israel-Iran conflict, Mr. Paopoom stated that the government must consistently evaluate the economic situation influenced by various global factors.
He also addressed the need for ongoing assessments of the effects stemming from US tariff measures, acknowledging that negotiations with the US have commenced with a favorable outlook.
During Tuesday's cabinet meeting, semi-annual reports from the Bank of Thailand and the Monetary Policy Committee were reviewed.
In light of these reports, the cabinet proposed four key strategies: enhancing coordination between fiscal and monetary policies, managing inflation to remain within the target range, ensuring an appropriate exchange rate, and examining the credit system to promote liquidity and economic stimulation.
