Pattaya Daily News

17 February 2009 :: 22:02:25 pm 39092

Thai Cabinet Approves Bt1.9 Trillion Budget For Fiscal 2010 Expenditure

BANGKOK, Feb 17 - Thailand‘s Cabinet on Tuesday approved a budget of Bt1.9 trillion for fiscal 2010 for government expenditure, starting this October 1, while it expects revenue of only Bt1.51 trillion, said Bandhoon Supakavanich, director of the Budget Bureau.
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Under the approved 2010 budget, the government will suffer a deficit of Bt390 billion under an assumption that gross domestic product (GDP) widens 3 per cent and inflation up 2 per cent, said Mr. Bandhoon.

Details of the budget allocation to each ministry will be worked out and completed in early May, he said.

Deputy Prime Minister Korbsak Sabhavasu said the expected Bt390 billion deficit is below the government’s earlier estimate by Bt430 billion, still lower than the ceiling by Bt40 billion.

Finance Minister Korn Chatikavanij, meanwhile, said the approved Bt1.9 trillion when added to the Bt117 billion supplementary budget for the mid-2009 fiscal, which would be considered by the Senate, should be sufficient to maintain economic stability.

Mr. Korn said he expected the government’s economic stimulus measures could work effectively between three to six months after the supplementary budget is approved by the Parliament.

Planned borrowing of Bt390 billion to make up for the shortfall of fiscal 2010 government expenditure would raise public debt to 45 per cent of GDP, Mr. Korn added. (TNA)

Reporter : PDN staff   Photo : Internet   Category : Thailand News

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