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Thai PM affirms government’s stable financial situation

Thai Prime Minister Prayut Chan-o-cha has affirmed that the country’s financial situation remains stable, reported local media in response to news that the country’s current treasury has only 74.9 billion THB (about 2.14 billion USD), the lowest level in many years.
Thai PM affirms government’s stable financial situation ảnh 1Illustrative image (Source: Money International)

Bangkok (VNA) – Thai Prime Minister PrayutChan-o-cha has affirmed that the country’s financial situation remains stable,reported local media in response to news that the country’s current treasuryhas only 74.9 billion THB (about 2.14 billion USD), the lowest level in manyyears.

The Thai PM explained that the reduction of State treasury wasdue to increased public investment in infrastructure projects to boost foreigninvestment and socio-economic reform projects.

He stated that Government spending is transparent in linewith law and for national interests.

He also underscored the stability of the country’s financialsituation with 169 billion USD in foreign currency reserve as of January 27.

However, Thai financial experts still voiced concern aboutthe fall of State treasury, saying the country’s current financial situation isworrying.

Earlier on February 7, the Fiscal Policy Office under theThai Ministry of Finance amended its forecast for the country’s economic growthin 2017 to 3.6 percent, 0.2 percent higher than its previous prediction afterthe Thai government decided to raise mid-year budget spending to190 billion THB (5.3 billion USD).

The agency even expected that Thailand’s economy this yearwill grow 4 percent in favourable conditions.VNA
VNA
#Prayut Chan-o-cha#State treasury
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