In this article, you will get all information regarding Thailand to keep budget gap to no more than 3% of GDP in 2023 – finance minister – Vigour Times

BANGKOK – Thailand’s government is planning to keep its budget deficit to no more than 3 percent of gross domestic product in the 2023 fiscal year, the finance minister said on Tuesday, aiming for a deficit of 593 billion baht ($17.13 billion).

Arkhom Termpittayapaisith also said the inflation target range of 1 percent to 3 percent was appropriate and monetary policy would ensure continued recovery of the economy.

The inflation target will help maintain price stability and keep medium-term inflation expectations anchored, he told a news conference.

Headline inflation was 5.55 percent in November, far above the Bank of Thailand’s target range, but Arkhom said it would gradually fall back to within the target in 2023.

The country’s public debt was expected at 61.35 percent of GDP at the end of the 2023 fiscal year starting Oct. 1, he said.

The central bank recently it would continue to gradually raise its key interest rate for a while until the economy grew at its full potential and inflation returned to target.

It has raised the benchmark rate by a total 75 basis points since August to 1.25 percent, and economists expected a further rate hike next month.

($1 = 34.62 baht)

Read Next

Don’t miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

For feedback, complaints, or inquiries, contact us.
Denial of responsibility! Vigour Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.



Thailand to keep budget gap to no more than 3% of GDP in 2023 – finance minister – Vigour Times

For more visit computernetworktopology.com

Latest News by computernetworktopology.com