Cabinet approves 3.1 trillion baht 2022 fiscal year budget

Cabinet approves 3.1 trillion baht 2022 fiscal year budget

BANGKOK (NNT) - The government has requested a 3.1 trillion baht budget for the 2022 fiscal year starting on 1st October 2021. The budget draft was approved by the Cabinet yesterday.

The Government Spokesman Anucha Burapachaisri revealed that the proposed 3.1 trillion baht budget for 2022 fiscal year has been reduced by 5.66% from the 2021 fiscal year budget, amounting to 180 billion baht.

The 3.1 billion baht amount will be allocated as regular budget at 75.95%, investment budget at 20%, loan repayments at 3.22%, advance payments remuneration at 0.18%, and reserve funds compensation at 0.02%.

It is expected the government will loose some 10.35% of revenue, worth around 2.4 trillion baht, which will require a 700 billion baht loan to compensate for the budget deficit.

Mr Anucha said the Prime Minister has ordered related agencies to review their spending and investment plan to better reflect the economy, help people affected by the COVID-19 crisis, and improve the country’s capacity, by emphasizing investments, while postponing budgetary spending wherever possible.