Thailand Plans Fiscal Deficit Increase to Boost Economy

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.