Bangkok: Professor Veera Teerapat has raised significant concerns regarding the draft 2027 budget and the fiscal framework of Thailand, stressing the substantial financial burden posed by public sector personnel expenses. The costs, encompassing salaries, benefits, and pensions, are particularly highlighted by the pension budget which has surged to 390 billion baht annually.
According to Thai News Agency, Professor Veera openly criticized the inefficiencies within the civil service system, describing parts of it metaphorically as "leeches and termites" that consume the budget without contributing effectively. He issued a stern warning to the more than 3 million civil servants that in the event of a financial crisis leading to unsustainable conditions, the initial impacts would likely involve reductions in benefits, salary cuts, or halts in new hiring-scenarios unprecedented in the Thai civil service system, for which it may be unprepared.
The broader political and economic situation in Thailand adds layers of complexity to these issues. Scrutiny is intensifying over large-scale projects like the Thai AI Passport, personnel shifts in mega-projects such as the Eastern Economic Corridor (EEC), and instances of financial corruption. Amidst these challenges, Professor Veera underscored the importance of fiscal sustainability, which is being threatened by ever-growing recurring expenditures. Without serious reforms, he warned, the country could face a fiscal crisis in the near future.