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Monday, May 13, 2024

State eager to avoid fiscal fiasco

Mr Arkhom says it is time to taper stimulus packages and resume normal fiscal policy.

The government set an ambitious goal to achieve a balanced budget in 10 years, even though several obstacles still remain.

Most governments over the past 30 years posted a budget deficit, according to data from the Budget Bureau.

Finance Minister Arkhom Termpittayapaisith said as the Thai economy is recovering from the impact of the pandemic, it is time to taper the stimulus packages and resume normal fiscal policy to direct the country towards a balanced budget in a decade.

Mr Arkhom said the ministry aims to achieve a balanced budget in 10 years by improving its tax collection efficiency and expanding the tax base.

Though the ministry plans to…

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