Thailand’s military junta will get the ball rolling again on about US$30 billion of government spending and step up approvals of foreign investments, the Wall Street Journal reported Monday.
The Thai military authorities plan to push forward funding for about 40 percent of the 2014 fiscal budget and appoint new members to the Board of Investment to clear a backlog of some US$22 billion worth of foreign investment applications, the report said.
Movement on fiscal spending is expected to dispel some pressure on the Bank of Thailand to cut its policy rate at its June 18 meeting.
The caretaker government of former Prime Minister Yingluck Shinawatra was financially hamstrung after she dissolved parliament’s lower house in December, resulting in delays in spending and approval of foreign investment projects, the report said.
– Contact us at [email protected]