Thailand Plans Fiscal Deficit Increase to Boost Economy

Dr. Nattanit Somchai
1 min read

Thailand is taking steps to raise the fiscal deficit estimate for the next fiscal year in order to revitalize its sluggish economy. The government is considering funding a $14 billion cash handout program through the state budget. Pornchai Thiraveja, the director-general of the Fiscal Policy Office, emphasized the need to update the budget framework to align with the evolving economic situation. The country's medium-term budget framework will be reviewed to accommodate a wider deficit for the fiscal year starting October 1. These developments indicate a clear shift in the government's approach to address the economic challenges and provide much-needed stimulus.

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