Bangkok: “Natthaphong” has expressed strong criticism of the original formula for the 2016 budget, reflecting what he perceives as the Thai government’s lack of direction and leadership. He questioned whether Thailand truly has a “government leader” given the focus on coalition party issues rather than addressing national concerns, describing the situation as a political crisis rather than a financial one.

According to Thai News Agency, Mr. Nattapong Ruangpanyawut, leader of the Prachachon Party and a key opposition figure, initiated a debate on the 69th budget. He acknowledged the Prime Minister’s decision to announce the budget using the economic growth projections from the National Economic and Social Development Board from February 2025, which estimated growth between 2.3-3.3%. However, he noted that the figures were outdated, as the latest projection in May was just 1.8%, which could significantly impact revenue and budget structure. Nattapong emphasized the need for the Prime Minister to adjust the policy statement rather than relying on the Budget Bureau’s outdated approach.

Mr. Nattapong highlighted the precarious state of the country’s finances with the 2016 budget, which has been stretched to its limits, leaving little room for new initiatives. The government has set a budget deficit of 3.78 trillion baht against an estimated income of 2.92 trillion baht, necessitating a borrowing of 860 billion baht to cover the deficit-equating to 4.5% of GDP. He raised concerns about the sustainability of such borrowing, noting that the Pheu Thai government set a new record for the highest borrowing proportion in 36 years. He criticized the lack of strategic investment plans and reliance on repeated borrowing to fund existing structures, which do not contribute to future growth.

Nattapong further criticized the government’s focus on internal coalition issues rather than addressing national challenges. He pointed to the 2015 central budget decision to reallocate funds for a digital wallet project as evidence of short-term thinking and burden-shifting rather than empowering local governance.

In light of global challenges, including environmental and economic instability, Nattapong argued that Thailand’s continued use of a failing budget formula could hinder its ability to overcome crises. He warned of potential GDP losses due to climate change impacts on tourism and agriculture, compounded by external factors like tariffs on exports.

He stressed that Thailand’s issue is not a lack of funds but rather inefficiency in resource management. With a total resource pool of 7-8 trillion baht annually, he called for better budget management across all government sectors. Nattapong questioned the leadership’s ability to guide the nation effectively, labeling the situation as a crisis of political and institutional exploitation rather than a financial one.