Deputy Finance Minister Julapun Amornvivat said today that the government’s decision to issue a bill to authorise borrowing for the funding needed for the digital wallet scheme is the most straightforward and transparent approach, because members of parliament can debate the issue and set up a panel to increase or cut the amount of the borrowing.
This statement was made by Julapun in an X post, in response to criticism from opposition MPs during yesterday’s budget bill debate in parliament over why the scheme was not included.
The deputy finance minister said the 500 billion baht in borrowing to fund the scheme is well within financial disciplinary frameworks and the loan will push Thailand’s public debt from 62% to 64% of the GDP, which is still manageable, without additional risk.
In rebutting Move Forward MP Sirikanya Tansakul’s criticism, that the budget does not reflect government’s claim that the country is in crisis, Julapun said there is no rule that a crisis is a factor in increasing or reducing budgets adding, however, that when there is an emergency, such as when there is a revenue shortfall, the government may introduce an across-the-board reduction in budgets for all ministries.
He explained that some of the budget was allocated to continue projects inherited from the previous administration or which are legally binding on the incumbent government, such as those to improve the capabilities and competitiveness of the country.
He further explained that some budgets have been cut and others increased to fit the government’s policies, which is a normal practice.
