BANGKOK, July 16 — Thailand’s National Council for Peace and Order (NCPO) has approved a Bt2.575 trillion national budget for the 2015 fiscal year, Bt50 billion higher than the 2014 budget.
Budget Bureau Director Somsak Chotirattanasiri said that the military council meeting yesterday approved the budget for fiscal 2015 and 17.5 per cent–Bt450.625 billion–was allocated for investment. Government revenues are projected at Bt2.325 trillion and the budget deficit is set at Bt250 billion.
The highest share of the budget, Bt498.16 billion, will go to the Ministry of Education, followed by Bt372.74 billion to the central fund that will cover the salaries and pensions of government officials, Bt341.164 billion to the Ministry of Interior, Bt193.065 billion to the Ministry of Defence that will receive Bt9.259 billion more than before, and Bt186.216 billion to the Ministry of Finance.
NCPO chief Gen Prayuth Chan-ocha who chaired yesterday’s meeting ordered quick disbursements.
The 2015 budget includes about Bt300 million to improve border checkpoints to support the formation of the ASEAN Economic Community.
The budget will also cover funds for 11 double-track railways and water management projects.
Mr Somsak said that the 2015 budget bill would be scrutinized by the Council of State, then return to the NCPO and submitted to the National Legislative Assembly that had yet to be formed.