Bank of Thailand foresees further budget delay


Hikes policy rate 0.25 percentage points

The Bank of Thailand expects the fiscal 2023 budget disbursement to be delayed by one more quarter than its previous assessment of one quarter, mainly due to the delay in the formation of the new government.

Given the new government’s formation would be delayed from the existing timeline in August, the Bank of Thailand estimates that the fiscal 2023 budget disbursement would be delayed for two quarters from the previous forecast of only one quarter.

However, the delayed fiscal budget would not significantly impact economic growth, said Piti Disyatat, secretary of the central bank’s Monetary Policy Committee (MPC).

“However, the…

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