Thai Cabinet ratifies 3.6 trillion baht budget for fiscal year 2025

[snoop1130]

 

The Thai Cabinet ratified a 3.6 trillion baht budget for the fiscal year 2025. This sees an expansion of the budget deficit to 713 billion baht, a 2.89% increase from the previous year.

 

The new budget was approved by the Cabinet on Tuesday, following its presentation by the Budget Bureau. It was announced by the Deputy Government Spokesperson, Rudklao Suwankiri. This budget reflects a 3.4% increase from the 3.48 trillion baht allocated for fiscal 2024.

 

Fiscal 2025 starts on October 1, 2024.

 

Rudklao informed that the budget for fiscal 2025 includes a deficit of 713 billion baht. This is necessary to ensure the continuity of economic expansion and stability, she said.

 

The government projects a net revenue of 2.88 trillion baht for 2025, which is a 3.6% increase from 2024. Public debt is estimated to stand at 12.7 trillion baht, equivalent to 63.7% of the GDP.

 

The country’s GDP growth is expected to range between 3.1% and 4.1% in 2025, averaging at 3.6%. The inflation rate is also projected to be between 1.5% and 2.5%. Thai GDP is estimated to amount to 20.0 trillion baht, a step up from 19.0 trillion baht in 2024.

 

Rudklao said that the next phase is for the Budget Bureau to invite various government agencies to submit their expenditure proposals for review.

 

By Alex Morgan

Caption: PHOTO: via the economic times

 

Full story: The Thaiger 2024-01-17

 

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[john donson]

aiming for good old 100% soon ? without counting the vote buying scam wallet

Edited January 18 by john donson

[flyingtlger]

16 hours ago, snoop1130 said:

This sees an expansion of the budget deficit to 713 billion baht

That's a lot of cheddar....

[Srikcir]

18 hours ago, snoop1130 said:

the next phase is for the Budget Bureau to invite various government agencies to submit their expenditure proposals for review

The economic projections look reasonable, albeit economic growth might be slightly less due to tourism uncertainties.

I look forward to the Ministry of Defence 2025 budget.

Probably what the public will never see are the revenues derived from the military's independent nongovernmental sources, such as it's ownership of natural resources, military base private contracts, and paid public use of military facilities such as its shooting ranges. In 2023 prior to the election as I recall, the House opposition coalition requested in session that the military identify revenues from all such nongovernmental sources to which the military agreed. However, that request appears to have been shelved at best.