Almost 300 billion of the 2.28-trillion-baht budget set for state investment in infrastructure projects and stimulus measures for the provincial economy is expected to be drawn down this year, driving economic growth.
The Fiscal Policy Office (FPO) estimated 297 billion baht or 13% of the 2.28 trillion will be taken out this year, said Krisada Chinavicharana, director-general of the FPO.
Of the 2.28 trillion baht, 86.4 billion has been allocated for injecting money into the provincial economy, while the remainder is for public investment.
He said of the 86.4 billion baht, some 26.6 billion baht or 30% had already been taken out as of the end of April.
For example, 25.4 billion baht of a scheme giving 5 million baht per tambon, worth 36.4 billion in total, was drawn down at the end of April, while 1.2 billion baht of the 35-billion budget of which each village is to receive 500,000 baht had already been disbursed.
However, none of the 200,000-baht handouts to each of the country's 74,000 villages to operate approved projects had been disbursed, said Mr Krisada, without providing an explanation.
He said 113 billion baht or 5.2% of the 2.19-trillion-baht budget set for short-term road development, water management projects and large-scale infrastructure projects had been disbursed.
For big-ticket infrastructure investments worth a combined 1.8 trillion baht, 6.89 billion was drawn down as of April 30, said Mr Krisada.
The government is stepping up efforts to accelerate budget spending and consumption to shield the economy from ebbing exports stemming from China's cooling economy and uncertainties among major Western economies.
Separately, Bank of Thailand governor Veerathai Santiprabhob said the central bank has been managing the baht's value to be in accordance with other regional currencies amid the weakening trend of Asian currencies.
"Central bank officials have managed the baht to prevent currency volatility from impeding Thailand's economic recovery," said Mr Veerathai.
"We have managed the local currency's movement to be in line with that of regional currencies."
The US dollar has strengthened as markets expect the Federal Reserve to further normalise its interest rate policy, making regional currencies weaker as a result, he said.
The Fed's rate decision is the main issue affecting the local currency's value rather than Thailand's economic growth outlook, said Mr Veerathai.
The baht weakened yesterday to 35.73/35.75 from 35.66/35.68 on Friday.