Spend budget wiselyThe Finance Ministry has finalised arrangements for 20 billion baht of loans from local banks to cover the national budget which will be made available immediately. The controversial proxy voting by coalition MPs almost made the 2020 budget bill null and void. Such a gloomy scenario bodes ill for the country's already ailing economy, and now all hopes are being placed on state spending to spur growth. The 20 billion baht worth of loans may seem negligible, considering that the law permits 10% of the 3.2-trillion-baht budget, or 320 billion baht, to be financed through them. The government must keep in mind that accountability as well as efficiency are the keys to effective budget spending.

Source: Bangkok Post February 19, 2020 22:07 UTC