Bangkok: Ms. Sirikanya Tansakul, Deputy Leader of the Prachachon Party and MP for the party list, has advised the government to reconsider its financial strategy by adjusting and reallocating the budgets for 2015 and 2016, rather than proceeding with a plan to borrow 500 billion baht. She emphasized the necessity for a clear financial plan, expressing concerns about the potential inefficacy of borrowing without specific allocation details.

According to Thai News Agency, Ms. Sirikanya’s comments come in response to the government’s preparation to borrow the significant sum to stimulate the economy and counteract challenges such as the US tariff wall. The Permanent Secretary of the Ministry of Finance has suggested using funds from the 2025 budget, specifically 150 billion baht intended for a digital wallet project, to mitigate the need for such borrowing. Ms. Sirikanya proposed reallocating funds from the 2025 and 2026 budgets, estimating that a strategic realignment could free up 300 billion baht, thus reducing or eliminating the need for new loans.

Ms. Sirikanya stressed the importance of revising the 2026 budget bill to reflect the evolving economic landscape. She suggested that a short delay in submitting the revised budget to parliament would be acceptable if it meant securing a more effective economic strategy. Her caution stems from past experiences where significant government expenditures did not yield promised economic growth, such as the 10,000-baht handout project.

She expressed skepticism about the government’s ability to achieve its economic growth target of 3%, noting that the IMF projects a rise to only 3% from 1.8%, which would require more than the proposed 500 billion baht. Ms. Sirikanya argued that maintaining a 2% growth rate might be feasible with the current budget, provided it is managed effectively.

Addressing public concerns about the perception of the loan being used for giveaways, Ms. Sirikanya called for transparency and a clear governmental plan. She emphasized the need for the government to outline its intentions for any borrowed funds, whether they are to be used for compensation, economic stimulation, or investment. She advocated for the involvement of both the public and opposition in holding the government accountable.

Ms. Sirikanya concluded by expressing support for budget allocations aimed at economic reform, urging the government to present a clear plan for such reforms before considering additional borrowing or increasing the public debt ceiling.