BANGKOK : Thailand expects only a small economic impact from a delay in the fiscal budget as the country awaits the formation of a new government after May’s national election, a finance ministry official said on Friday.
The 2024 fiscal budget was put on hold before the elections and projects spending at 3.35 trillion baht ($96.79 billion). It will need approval from the next government, the parliament and the king before taking effect.
The budget could be delayed by up to six months from the start date in October, but is expected to affect economic growth by just 0.05 per centage point, Krisada Chinavicharana, the ministry’s permanent secretary, told reporters.
The government has prepared some 120 billion baht to shore up Southeast Asia’s second-largest economy and will speed up investment and other spending, he said.
The Thai economy has been increasingly reliant on the tourism…
