Business

PM guarantees fiscal position remains strong with no payroll crisis looming

PRIME Minister Prayut Chan-o-cha today (Sept. 23) debunked rumours falsely claiming the government is facing such a severe budget problem that civil service payroll could be affected underscoring that the country’s financial position remains strong, Siam Rath newspaper reported.

Pointing out that he had already previously clarified this issue, the Prime Minister said relevant agencies had stated that there is no impact because Thailand has reserves to tap into if need be with the cash flow remaining strong.

However under the current economic conditions it is difficult to get new money but there is plenty of what had been previously saved, he said, however adding that the government cannot use the reserves unless it is necessary.

Despite fake news of the government not being able to meet this or that payment circulating many times now, Gen. Prayut pointed out that all local authorities are getting cash, and when more is need, it is provided.

The government’s budget is adequate with there not being any problem with the reserves and all funds remain strong, he said.

Gen. Prayut added that if it is necessary the government could borrow locally but in fact he does not see any issues as the fiscal position remains healthy with all commercial and state banks being in a good state.

What he does worry about is how the government is going to top up the money it is currently spending in future.

“This is what I think about all the time,” he said.

CAPTION:

Top: Prime Minister Prayut debunking fake news today. Photo: Siam Rath

Nina
I am veteran journalist and part of ThaiNewsroom.com’s editorial team. We are working hard at making this news site a success and value the support of each and every reader
https://thainewsroom.com/

Leave a Reply