Cabinet gives the nod to 3.35 trillion baht budget for next fiscal year
The Cabinet on Tuesday approved a budget of 3.35 trillion baht for fiscal year 2024, with a deficit of 593 billion baht.
The 2024 allocations are 165 billion baht higher than the previous year’s budget, but the deficit is lower by 102 billion baht.
"The government expenditure for the next fiscal year was proposed by the Budget Bureau," a source from the government said.
The source added that Prime Minister Prayut Chan-o-cha would deliver his policy initiatives on expenditure to government agency executives this week.
According to four state economic agencies – the Budget Bureau, the National Economic and Social Development Council, the Bank of Thailand and the Finance Ministry – the government is expected to generate net revenue of 2.75 trillion baht in fiscal year 2024, up 10.7% compared to fiscal year 2023.
The four agencies expect inflation in fiscal year 2024 to be in the range of 1% to 2%, and the ratio of public debt to gross domestic product at 61.35%.
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