2024 Budget Bill Approved for Parliament Review
The government's cabinet has greenlit the 2024 fiscal year's Budget Bill, which is now headed to the House of Representatives for consideration, announced Prime Minister Srettha Thavisin. He mentioned that initial discussions in the House are set for January 3rd and 4th.
The proposal requests 3.48 trillion baht, marking a 9.3% increase from the previous year, to cover expenditures for the fiscal year starting October 1. The bill's approval was delayed by government changes post-elections.
The breakdown includes 2.53 trillion baht for regular government expenses and 118.36 billion baht to bolster treasury reserves. Investment funding is pegged at 715.38 billion baht, with remaining funds allocated for debt repayments.
A new loan limit of 693 billion baht, or 3.63% of the total budget, is outlined by the Prime Minister.
The country's GDP for the fiscal year is projected at 19.02 trillion baht.
Post-first reading, the bill undergoes a committee review, returns to the Lower House for further deliberations on April 3rd and 4th, moves to the Senate for a vote on April 9th and 10th, and, if approved, is set for royal endorsement by April 17th.
The breakdown includes 2.53 trillion baht for regular government expenses and 118.36 billion baht to bolster treasury reserves. Investment funding is pegged at 715.38 billion baht, with remaining funds allocated for debt repayments.
A new loan limit of 693 billion baht, or 3.63% of the total budget, is outlined by the Prime Minister.
The country's GDP for the fiscal year is projected at 19.02 trillion baht.
Post-first reading, the bill undergoes a committee review, returns to the Lower House for further deliberations on April 3rd and 4th, moves to the Senate for a vote on April 9th and 10th, and, if approved, is set for royal endorsement by April 17th.