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Thai PM Prayut Chan-o-cha. Photo: thestar.com.my 

The Thai PM explained that the reduction of State treasury was due to increased public investment in infrastructure projects to boost foreign investment and socio-economic reform projects.

He stated that Government spending is transparent in line with law and for national interests.

He also underscored the stability of the country’s financial situation with 169 billion USD in foreign currency reserve as of January 27.

However, Thai financial experts still voiced concern about the fall of State treasury, saying the country’s current financial situation is worrying.

Earlier on February 7, the Fiscal Policy Office under the Thai Ministry of Finance amended its forecast for the country’s economic growth in 2017 to 3.6 percent, 0.2 percent higher than its previous prediction after the Thai government decided to raise mid-year budget spending to 190 billion THB (5.3 billion USD).

The agency even expected that Thailand’s economy this year will grow 4 percent in favorable conditions.

Source: VNA