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Thailand coup: Finance ministry proposes budget of $100b for new fiscal year

Published on May 27, 2014 4:22 PM
 
Thailand's finance ministry is proposing a state budget of 2.6 trillion baht (S$100 billion) for the fiscal year starting Oct 1 and a smaller deficit than this year's at up to 200 billion baht, a senior ministry official said on Tuesday, May 27, 2014. -- PHOTO: AFP

BANGKOK (REUTERS) - Thailand's finance ministry is proposing a state budget of 2.6 trillion baht (S$100 billion) for the fiscal year starting Oct 1 and a smaller deficit than this year's at up to 200 billion baht, a senior ministry official said on Tuesday.

Spending would be slightly higher than the 2.52 trillion baht of the current fiscal year, which is expected to come in at a deficit of 250 billion baht.

Mr Rangsan Sriworasat, the ministry's permanent secretary and acting finance minister under the military council that took power on May 22, said the planned revenue of 2.4 trillion baht should be attainable as the new government's "economic road map" was intended to quickly boost consumption and investment.

"So the economy is expected to grow as much as 3 per cent this year and higher than that next year, thus increasing tax revenue," he said.

 
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