“Weera” is concerned that the budget will create a fiscal crisis in the future.

"Weera" is concerned about the budget allocation creating a fiscal crisis in the future, which may lead to disaster. He recommends strictly prohibiting the increase in the spending limit for at least 3 years, and stopping the burden on the fiscal budget in 2026. Mr. Weera Thiraphatranon, a minority member of the Special Committee on the Consideration of the Draft Budget Act for Fiscal Year 2025, discussed during the House of Representatives meeting to consider the Draft Budget Act for Fiscal Year 2025, second reading, that he requested to reduce the 2025 budget by 1.7 hundred billion baht. In the past, every government has allocated a deficit budget and borrowed money to compensate for the budget, causing public debt to increase rapidly over the past 10 years, creating concerns about the country's future financial and fiscal status. Currently, our public debt as of June 2024 is 11.54 trillion baht. It is expected that by the end of 2025, it will exceed 12 trillion baht, possibly reaching 13 trillion baht in the next 3-5 years. If the government continues to allocate a deficit budget and borrow money to compensate for the deficit, there will be serious public financial and fiscal problems. While the 2025 budget There are regular expenses of 2.7 trillion baht, investment expenses of 900 billion baht, and expenses to repay principal and interest of 150 billion baht. Regular expenses do not decrease, but increase all the time. Every baht and satang is a loan that must find money to pay back principal and interest in the future. 'This is a dangerous signal that a crisis will occur in the future. Even if it is claimed that the operations are within the framework of fiscal discipline and are in accordance with the law, it can lead to disaster if done carelessly. Currently, the government has an outstanding principal and interest payment as of September 30, 2023 of 1.04 trillion baht, but at present, we do not know how much because it has not been disclosed. This is eroding and undermining the current and future financ ial status of the government. If it is not stopped, a fiscal crisis will occur,' said Mr. Weera. Mr. Wira also proposed that the preparation of the expenditure budget from 2026 must be done without increasing the expenditure amount again for at least 3 years until the fiscal risk is reduced and can be managed appropriately, including the expenditure budget for 2026 must stop creating future fiscal burdens, allowing state financial institutions to issue money instead of the government first and allowing the government to repay later. Accelerating the payment of the principal and interest in arrears of 1 trillion baht until the principal is reduced. If not done, there may be a fiscal crisis in the future. 'This is truly eroding and undermining the state's fiscal status, both present and future. If we do not stop or manage the problem from the beginning, the fiscal burden will become a fiscal risk and eventually lead to a fiscal crisis. If we do not do this now, I am afraid that we may inevitably face a fiscal crisis in the future that we have never experienced before in solving,' said Mr. Weera. Source: Thai News Agency