The cabinet yesterday approved the medium-term fiscal policy for fiscal 2024-2027, with the aim of achieving a significant reduction in the budget deficit in 2024 to ensure fiscal stability.
According to Finance Minister Arkhom Termpittayapaisith, the government set the expenditure at 3.18 trillion baht in the 2023 fiscal year with a budget deficit of 695 billion baht, the latter being 5 billion baht lower than the previous fiscal year. The budget deficit of 695 billion baht is equal to 3.7% of GDP.
The government set the expenditure at 3.35 trillion baht for 2024 with a budget deficit of 593 billion baht which represents around 3% of anticipated GDP.
