Thailand: Prayut says larger 2022 budget deficit won’t impact Covid response

• Jan 11, 2021

Prime Minister Prayut Chan-o-cha on Monday said that the larger government deficit in next year’s budget would not affect the country’s efforts to manage the spread and economic fallout of the coronavirus.

“The 2022 budget deficit will not affect fiscal discipline and the country’s drive to move forward from the crisis caused by the Covid pandemic,” Gen Prayut said in televised remarks to civil servants and the public.

The government plans a deficit of 700 billion baht, up from 609 billion baht this year.

Next year’s budget of 3.1 trillion baht, approved last week, is about 5.6% lower than the current fiscal year.

The gap comes from lower tax revenue, he said.

Revenue collection is expected to be at 240 billion baht from 267 billion baht this year due the economic impact from the coronavirus.

The country begins use of the 2022 budget on Oct 1 this year. 

Source: https://www.bangkokpost.com/business/2049107/prayut-says-larger-2022-budget-deficit-wont-impact-covid-response