Thailand has unveiled a spending plan of 3.78 trillion baht ($110.7 billion) for its 2026 fiscal year, reflecting a slight increase from the previous year’s allocation.
The government also projects a reduced budget deficit of 860 billion baht, marking a 1% decline from the 870 billion baht deficit planned for 2025. These details were part of a medium-term fiscal plan approved by the Thai cabinet on Tuesday.
The 2026 fiscal year, beginning on October 1, 2025, is based on economic growth projections of 2.3% to 3.3% and an inflation rate ranging from 0.7% to 1.7%. The plan anticipates a public debt-to-GDP ratio of 67.3% by the end of the fiscal year, up from the 65.6% estimated for 2025.
According to the government, the slight spending increase of 0.7% from the 3.75 trillion baht allocated for 2025 aligns with efforts to ensure economic stability while gradually reducing the deficit to a sustainable level over the medium term.
“The fiscal target of the fiscal plan still requires a deficit budget to maintain economic stability and focus on reducing the deficit to an appropriate level in the medium term,” the government stated.
The cabinet is set to convene on January 3, 2025, to discuss further details of the 2026 budget plan, according to a Budget Bureau official.
Melissa Enoch
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