Bangkok: “Natthaphong” has voiced strong criticism against the original formula for the 2016 budget, suggesting it reflects a lack of clear direction from the Thai government. He questioned whether Thailand truly has a “government leader,” emphasizing that the current predicament is not a financial crisis but a political one, with the government more preoccupied with coalition party issues than the country’s pressing problems.

According to Thai News Agency, Mr. Nattapong Ruangpanyawut, leader of the Prachachon Party and opposition figure, initiated a debate on the 69th budget. He expressed understanding of the Prime Minister’s decision to use outdated economic growth projections from February 2025, which estimated growth at 2.3-3.3%, instead of the revised 1.8% from May. Mr. Nattapong suggested that the Prime Minister should have adjusted the policy statement to reflect current realities and questioned whether the unchanged budget was causing the Thai populace to suffer.

Mr. Nattapong highlighted concerns about the 2016 budget, noting the government’s expansion of the budget close to its limit, leaving little room for new initiatives. With a budget deficit set at 3.78 trillion baht against an estimated income of 2.92 trillion baht, the government plans to borrow 860 billion baht, constituting 4.5% of GDP. He warned that using updated figures would significantly increase this proportion, and criticized the government for spending beyond its means without a strategic investment plan. He pointed out that only a quarter of the budget, around 1.06 trillion baht, is available for actual use.

He further criticized the government’s focus on internal coalition issues, saying it neglected to address the country’s broader problems. He cited the 2015 central budget, where a cabinet resolution shifted funds intended for a digital wallet project to short-term investments, as evidence of misplaced priorities.

In the face of global instability, climate change, and economic downturns, Mr. Nattapong lamented the continued use of an ineffective budget formula. He warned that climate variability could cost Thailand 45% of its GDP, impacting key sectors such as tourism and agriculture, and noted the negative impact of international tariffs on exports.

Mr. Nattapong asserted that Thailand does not lack financial resources but rather effective management. He urged the government to better utilize the total 7-8 trillion baht in national resources by efficiently managing budgets across various government sectors. He criticized the Prime Minister for allowing the budget to be spent without clear goals, questioning the leadership’s capacity to guide the country through its current political crisis.