Home > News > World
Tuesday June 10, 2014 MYT 7:15:02 PM
Tuesday June 10, 2014 MYT 7:16:27 PM
BANGKOK (Reuters) - Thailand's military government has approved a state budget plan for the next fiscal year starting on Oct. 1, with a deficit of 250 billion baht (4.58 billion pounds), similar to the current year's, a senior official said on Tuesday.
As proposed by the Finance Ministry, spending is projected at 2.575 trillion baht, up 2 percent from the current year's, and revenue of 2.325 trillion baht, Ampon Kittiampon, the cabinet secretary, told reporters.
The ministry said previously that of the total spending, 17.5 percent would be for investment and that the 2014/15 budget plan was based on economic growth of 4 percent for calendar 2015 and inflation of 2.3 percent.
Somsak Chotrattanasiri, head of the Budget Bureau, said the plan was expected to be ready for royal approval so that the budget could start on time on Oct. 1.
Progress on the budget for the next fiscal year was delayed by months of political unrest, which also hurt confidence, domestic demand and tourism.
The military council has said it does not want a large-scale spending plan that would commit the next administration, and would push ahead only with important infrastructure projects.
(Reporting by Pracha Hariraksapitak; Writing by Orathai Sriring; Editing by Alan Raybould and Robert Birsel)
Thai police hunt two bombing suspects after weekend raids
Austria toughens border controls in trafficking clampdown
Prolific horror filmmaker Wes Craven dead at 76
Refugee crisis suddenly Merkel's biggest challenge
Thai police rewards themselves after mysterious bomb suspect nabbed
Five unusual ways to build endurance for a marathon
Astro subscribers to get free all-channel access until Aug 31
All set for trash sorting
Chua: Treasury to look into the matter following appeals
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)