The Finance Ministry does not want to persist with high spending by state-owned financial institutions as it wants to maintain fiscal discipline, according to finance minister Arkhom Termpittayapaisith.
The cabinet recently approved a temporary increase in the funding ceiling for such institutions, which the government can use to pay for state projects.
The ceiling was expanded to 35% of the country’s annual total expenditure, from a previous limit of 30%. The expansion takes effect from now until the end of the 2023 fiscal year in September 2023.
Mr Arkhom said that after the end of the 2023 fiscal year, the ceiling should be returned to the previous rate of 30%.
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