The government expects gross domestic product (GDP) growth of 3.2% next year, it said in a statement.
It targeted a public-debt-to-GDP ratio of 64% by the end of the 2024 fiscal year. The targets were part of a medium-term plan up to 2027.
The move comes as the new administration, led by the populist Pheu Thai Party, prepares a raft of new policies to ease the cost of living, suspend debts for farmers, raise minimum wages and provide handouts to all adult Thais via a digital wallets.
The budget earlier this year approved by the previous government projected a 5.18% rise in spending to 3.35 trillion baht, including 717 billion baht in investment. It projected a 14.68% drop in the budget deficit to 593 billon baht, or 3% of GDP.
($1 = 35.7700 baht)
Source: Economy - investing.com
