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Office director-general, Pannee Stavarodom said that to ensure a balanced budget, no more than 15 per cent of the annual budget must be earmarked for debt repayment, while public investment should be no more than one fourth of the budget.

However, she acknowl-edged some risk factors, particularly soaring oil prices and political instabili-ty.

"If the government fol-lows strict fiscal and mone-tary discipline and the econ-omy continues to grow, we can achieve a balanced budget within the next two or three years," she said.

The International Monetary Fund (IMF) recently recommended

that the Fiscal Policy Office be the centre of risk manage-ment for all state agencies.

Panee added that if glob-al oil prices for the whole year average US$116 (Bt3,886) per barrel, it is possible that the 6 per cent economic growth target could be met.

However, political unrest could affect consumer spending and discourage private investment.

She added that the government should also spend more on mega-projects to stimulate the economy.