Cabinet Approves 3.788 Trillion Baht Budget for Fiscal Year 2570, Emphasizing Targeted and Cost-Effective Spending
Thailand's Cabinet approved a 3.788 trillion baht budget for fiscal year 2570, a modest 0.2 percent increase from the previous year, with emphasis on targeted spending and reduced government deficit.
On April 28, 2569, at Government House, Ratchada Thanadirek, spokesperson for the Prime Minister's Office, announced that the Cabinet meeting approved an expenditure budget framework of 3,788,000 million baht for fiscal year 2570, an increase of 7,400 million baht from fiscal year 2569's allocation of 3,780,600 million baht, representing a 0.2 percent increase.
The budget framework was developed through consultations among four agencies: the Budget Bureau, Ministry of Finance, Office of the National Economic and Social Development Council, and the Bank of Thailand on April 22, 2569. It aligns with the medium-term fiscal plan for fiscal years 2570–2573 previously approved by the Cabinet.
The budget maintains fiscal discipline with a projected net government revenue of 3,000,000 million baht, up 79,400 million baht or 2.7 percent from the previous year, and a deficit budget policy set at 788,000 million baht, a reduction of 72,000 million baht or 8.4 percent from fiscal year 2569.
Ratchada stated that the Prime Minister has instructed all government agencies to prepare budgets with precision and efficiency, focusing on directly addressing public hardships while adhering to principles of cost-effectiveness, necessity, urgency, and appropriateness to the current situation. The approach includes implementing zero-based budgeting concepts for maximum benefit and utilizing alternative funding sources outside the regular budget, such as off-budget funds or alternative capital, for government investment projects to reduce the overall budget burden on the nation.
