NCPO: Economic policies will be announced next week

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BANGKOK, 27 May 2014  – The National Council for Peace and Order (NCPO) says the state budget for the next fiscal year will be decided on within the normal schedule and that it will announce its economic policies next week. 

Deputy NCPO Chief Air Chief Marshal Prajin Juntong, who is in charge of economic affairs, said after his meeting with the Finance Ministry that the economic policies he discussed will be announced in the following week, adding that the next fiscal budget plan, which starts on October 1st, would be drawn up as usual.

As for the rice scheme, he said payments of 90 billion baht to rice farmers under the rice pledging program would help boost economic growth by 0.2 percentage point this year.

Meanwhile, Somchai Sujjapongse, Director-General of the Fiscal Policy Office, has disclosed that the NCPO will roll over corporate, income and valued-added tax rate cuts, which would otherwise expire this year, and has no plans to impose any capital controls.

He also made known that the military government would go ahead with some projects now halted under the 2 trillion baht infrastructure and 350 billion baht water management plans.