Thailand’s 2024 budget to be ready by 1Q24

The government had previously warned of a delay in the 3.35 trillion baht (US$96bil or RM446bil) budget, as it held elections last month and awaited the formation of a new government by August. — Reuters

BANGKOK: Thailand expects its 2024 fiscal budget to be ready by the first quarter (1Q) of next year, the head of the state planning agency told a business seminar yesterday.

Thailand’s fiscal year begins in October.

The government had previously warned of a delay in the 3.35 trillion baht (US$96bil or RM446bil) budget, as the South-East Asian country held elections last month and awaited the formation of a new government by August.

Danucha Pichayanan said the timing of the budget was based on the assumption “that the new government is ready by then”. “Then there will be swift injections,” he said.

Spending of about 1.8 trillion baht (RM240bil) to 1.9 trillion baht (RM253bil) is expected from state-owned enterprises and other government agencies over the next two quarters, Danucha added. — Reuters