Government says court’s interpretation of 2014 budget bill may slow economy

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BANGKOK, 27 September 2013 Finance Minister Kittirat Na Ranong has admitted that the Constitutional Court’s accepting to interpret the draft of the 2014 budget bill could result in a slowdown in the economy and cause the annual economic growth to miss the 4% target.

According to Mr. Kittirat, there could be a delay on the investment projects that have earlier been marked for implementation in the 4th quarter of the year. Nonetheless, the government will push the projects forward utilizing leftover funds worth 120 billion baht from the 2013 budget. He indicated that all state agencies have been asked to speed up investments during the 4th quarter so that the aforementioned amount of remaining budget would help drive the economy in the time left before the year ends.