House of Representatives, Cabinet prepares additional budget for 2024 to support Digital Wallet of 500 billion baht, hoping to stimulate the economy at the end of the year. Green light for the country's central payment platform Supports the creation of a comprehensive welfare system Mr. Chai Watcharong, spokesman for the Office of the Prime Minister, revealed that the Cabinet meeting approved the guidelines for creating additional budget expenditures for the year 2024 as proposed by the Budget Office (B.P.O.) in order to equalize the budget. To be used to support the Digital Wallet project worth 500 billion baht, hoping to stimulate the economy at the end of the year. For details on additional budget allocation, submit it to the Cabinet next Tuesday, 28 May 2024. After the fiscal year 2024 budget period has passed for 7 months, there are only 5 months remaining, namely May - September 2024. Government agencies have already spent 1.75 trillion baht, accounting for 50.61 percent of the budget. allocate There fore, the other half of the budget, or approximately 1.75 trillion baht, is left to pay for government salaries, debt repayment of 1.25 trillion baht, and new investment of another 500 billion baht will definitely not be allocated for investment in time. 'The Budget Bureau views that the remaining period of 5 months is for the use of investment budgets if the method through the Budget Transfer Act is used. During the adjustment of the money transfer budget, it will take 2 months, causing disruption to every aspect of the budget. Wait until it passes. The council therefore chose a method of use. The Annual Additional Payment Act 2024 allows all parts to continue using the budget. There is also a way to use the budget to support the Digital Wallet, transferring 10,000 baht to distribute the money to the system. Stimulate the economy at the end of the year,' Mr. Chai said. Mr. Chai added that the Cabinet also approved the Payment Platform project as proposed by Digital Government Development Agency (Public Org anization) (Public Organization) is the operator of the Payment Platform project to serve as the country's central payment platform to connect with various financial service providers, upgrading the country's financial infrastructure. Reduce the cost of the economic system Increase your ability to compete In the first phase of 160 days, during July-September 2024, procurement and workshops will begin. July-December 2024, proceed with system development and testing. and October 2024-March 2025, providing system services and supporting usage, with the SPRO requesting a central budget of 95 million baht to support the development of payment platforms. Source: Thai News Agency
Sunday, September 08, 2024