Zero-Based Budgeting Cannot Tide Over Challenge of Increasing Revenue Without Punctuation

Inadequate revenue cannot be resolved through zero-based budgeting alone.

The Move Forward Party, expected to form Thailand’s next government after the May 14 election, has proposed using zero-based budgeting (ZBB) to replace current practices. ZBB would likely streamline the budget process, responding to urgent needs and challenges each year through its process of starting from zero rather than making incremental increases over previous budgets. Chalermphol Pensoot, director of the Budget Bureau, said discussions with the new government would be held. While ZBB was popular in the US in the 1970s, it has seen a renewed interest due to fiscal constraints. Critics of the move have questioned how the government will raise sufficient revenue to finance its state welfare and investment projects for future growth. The source revealed that should the new government decide to formulate the budget from a zero base, the bill could be delayed until March next year.

Source link


Latest Updates

Most Viewed

Related Articles