The deficit would be 100 billion baht, or 14%, higher than the 593 billon projected in the fiscal 2024 budget approved earlier by the Prayut Chan-o-cha government. That budget called for a 5.2% rise in spending to 3.35 trillion baht, including 717 billion baht for investment. The projected deficit represented a 14.7% drop from fiscal 2023 that ends on Sept 30. Public debt under the revised spending plan is expected to reach 64% of GDP by the end of the 2024 fiscal year, the government statement said. The government expects gross domestic product (GDP) growth of 3.2% next year, the statement said.

Source: Bangkok Post September 14, 2023 17:20 UTC