Cabinet approves moderate monetary and fiscal policy plan

House of Representatives, Cabinet agrees to adjust the moderate monetary and fiscal policy plan. Move forward with a loan Push the economy to grow according to its potential by more than 3 percent per year, increasing the 2025 budget to 3.752 trillion baht. Mr. Chai Watcharong, spokesman for the Prime Minister's Office, revealed that the Cabinet meeting approved the proposal. The State Fiscal Policy Committee No. 1/2024, chaired by the Prime Minister, admitted that the Thai economy grew below the average of 2.2-3.2 percent in 2024 due to many factors. both inside and outside the country As a result, the GDP recovery was lower than expected. and below the potential of the Thai economy And there is still a high household debt burden. State Fiscal Policy Committee therefore agreed to adjust the plan The state's medium-term fiscal and monetary policy from 2024-78 has reduced the size of the country's GDP from 19 trillion baht to 18.565 trillion baht, or a decrease of 3.6 percent. to 2.7 percent from the origin al forecast of 3.2 percent. The government aims to push the economy to grow more than its potential by 3 percent per year over the next five years because the current GDP is lower than it should be. through various budgets and investments To make every business branch grow The government has also adjusted the budget expenditure framework for 2025 from the original 3.6 trillion baht, increasing it to 3.752 trillion baht, or an increase of 152 billion baht, confirming that the budget must be in deficit, emphasizing that in 2028 it will return to a balanced budget. Even if you have to borrow money to push the economy Maintain the public debt framework between 65-67 percent, controlling it from exceeding the ceiling of 70 percent of GDP. In 2026, the government still has room to borrow 150 billion baht. In 2017, it was able to borrow 195 billion baht. 71 received a loan of 246 billion baht. Source: Thai News Agency

Recent POSTS

advertisement

ADVERTISEMENT