State disburses 74% of investment budget

Highest level in the 5th period

A rendition of the Chinese CRRC-built Fuxing Hao CR300 train running between Bangkok and Nakhon Ratchasima. High-speed trains form part of the state’s investment budget.

State investment budget disbursement in fiscal year 2022 recorded 74% of the total investment budget of 611 billion baht, the highest level in the past five fiscal years, said Kraya Thanthitemit, director general of the General Directorate of Audit. .

While disbursement was slightly below the target of 75%, Kraya said it had failed to reach the 70% level in the past five years.

The government has set a spending target of 75% against an investment budget of Bt689 billion in FY2023, of which 15% was achieved in the first two months of October and November.

In FY2023, the government aims to achieve a cumulative disbursement of investments of 19% in the first quarter, rising to 39% in the second quarter, 57% in the third quarter and 75% in the final quarter To do.

The investment budget for fiscal year 2023 will account for 21.7% of total state spending, the highest percentage since 2018.

In fiscal 2022, it was 19.7%.

She said the agency has accelerated payments to contractors working on state projects and eased barriers to delaying payments.

The department recently proposed to the Finance Minister an amendment to the state procurement law regarding private bidders’ appeals against bid results after failing to secure a contract.

The appeal will delay the project by at least three months, Kulaya said.

Budget expenditures for such projects are also affected as projects must be delayed until the case is adjudicated.

As part of the amendment, the department will require bidders filing appeals to place financial guarantees worth 0.2 percent of the total project value, not exceeding 200,000 baht, she said.

If the department considers the appeal to be frivolous, the guarantee will be withheld.

Kraya said most of the appeals were about small projects valued at less than 100 million baht.

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