BANGKOK, Thailand – Thailand’s fiscal position remains resilient, with substantial financial buffers and a commitment to maintaining essential public welfare spending, the Finance Ministry’s permanent secretary has said, rejecting comparisons with France’s recent fiscal difficulties and protests.
Lavaron Sangsnit, permanent secretary of the Ministry of Finance, said Thailand’s approach differs from that of France, where budget deficits and public debt have contributed to political and social tensions. He said the Thai government remains committed to fiscal discipline, a priority for Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas.
Rather than reducing essential welfare benefits or lowering the quality of public services, the government intends to address budget leakages and cut unnecessary expenditure, Lavaron said.
He added that three major international credit rating agencies had recognized Thailand’s fiscal discipline and economic standing, supporting the country’s creditworthiness.
Managing accumulated public debt would take time, he said, stressing that the government should avoid unnecessary new borrowing. When loans are required, the money must be directed towards projects that deliver tangible benefits and use public funds efficiently.
Rooftop solar scheme may reach Cabinet this month
The Finance Ministry is also preparing to submit a household rooftop solar installation scheme to the Cabinet, potentially within October. Lavaron said a subcommittee reviewing the proposal had held several meetings over the past three to four days, with further discussions under way before the plan is submitted. The review includes links with related smart systems to improve the effectiveness of the overall program. The proposal has already undergone several rounds of scrutiny, he said, to ensure its details are carefully assessed and public confidence is maintained.
Separately, plans concerning higher import taxes on electric vehicles remain under consideration. The proposal is being prepared for the next stage of the approval process, with the final direction awaiting a decision from the deputy prime minister and finance minister. (Story, Photo: Prachachat Business)
