Ministry embracing data-driven approach to policymaking

Quick Summary:

The Finance Ministry wants to upgrade its fiscal policymaking by adopting a data-driven approach.

For instance, if the government gives 100 baht to low-income individuals, they might spend 80 baht, while higher-income individuals might only spend 20 baht.

To ensure efficient budget allocation, the government focuses on helping low-income individuals before those with higher incomes because the former have a higher marginal propensity to consume, he said.

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Article Details

Category: EconomyBusiness

Markets: Thailand

Topics: Baht Fiscal Health Budget Pornchai Data Public Population Welfare Ministry Individuals

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-17 @ 04:00:00 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 481 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 21658143

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Official Website: bangkokpost.com

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News Last Updated: 5 hours ago

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