The government, led by Prime Minister Srettha Thavisin, announced the details of the 2024 national budget during a parliamentary session. The budget, amounting to 3.48 trillion baht, aims to address various economic and social challenges while also preparing the country for future growth.
The expenditure plan, which sees an increase from the previous year, is set against a backdrop of a projected gross domestic product (GDP) growth of 2.7-3.7%. The government anticipates net revenue of 2.78 trillion baht and plans to borrow 693 billion baht to cover the deficit. These figures are aligned with the economic forecasts by the National Economic and Social Development Council (NESDC) for the year.
Key areas of focus in the budget include national security, with an allocation of 390.1493 billion baht. This fund will support various initiatives such as drug rehabilitation programs, solutions for the Southern border issues, and efforts to maintain national peace and unity.
The budget also allocates 393.517 billion baht towards enhancing the country’s competitiveness. This includes investments in energy security, the digital economy, and cyber threat management. Additionally, 561.954 billion baht is dedicated to human resource development, underscoring the government’s commitment to education and public health.
Addressing social equality and opportunity, the budget earmarks 834.24 billion baht for social welfare programs, preparation for an aging society, and support for the grassroots economy. Environmental concerns are also a priority, with 131.292 billion baht allocated for sustainable growth initiatives, including efficient waste management and water resource management.
The government has also set aside 604.804 billion baht for improving state administration and management. This includes measures to combat corruption, digital government initiatives, and legal reforms.
The Prime Minister noted that while the budget marks a 9.3% increase from the previous year, the government expects an 11.9% rise in revenue collection. This increase in revenue will support significant investments and debt repayments, setting a strong foundation for the nation’s economic stability and growth in the coming years. (NNT)
