BANGKOK, 29 January 2015 – The Constitutional Drafting Committee has discussed a new approach to managing the government budget under the effect of the new charter.
CDC spokesman Kamnoon Sidhisamarn said that the charter drafters already reviewed the section of the draft Constitution related to the country’s finance and budgeting.
Mr. Kamnoon said that the CDC agreed to propose more suggestions on the issue including the redefinition of the government budget to include state revenue and loans acquired by the government. The drafting committee also added a provision that forbids the government from making any borrowing if such an action has not been included in the annual budget law.
In addition, the CDC has set new principles related to the enactment of the Budget Act in such a way that the future government will have to put, in detail, both annual expenses and revenue, while allocating the budget to not only state agencies but all local areas in a transparent and disciplined way.
