BANGKOK, Thailand – Prime Minister Anutin Charnvirakul has directed economic agencies to conduct a comprehensive review of the fiscal year 2027 budget, mandating the elimination of non-essential spending to bolster fiscal resilience against heightening global economic volatility.
Citing the direct impact of Middle East conflicts on national energy security and economic stability, the Prime Minister emphasized the necessity for increased administrative efficiency and resource optimization to navigate intensifying fiscal constraints.
The Prime Minister on Wednesday chaired a meeting with for key economic agencies -the Ministry of Finance, the Bureau of the Budget, the National Economic and Social Development Council (NESDC), and the Bank of Thailand.
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas confirmed that the 2027 budget framework remains aligned with established fiscal principles. He further clarified that the government will maintain the public debt ceiling at 70% of GDP, dismissing reports of a potential hike to 75% aimed at facilitating emergency loans for energy subsidies and economic stimulus.
Thailand’s public debt currently stands at approximately 66% of GDP. Raising the ceiling to 75% would create fiscal space allowing the government to borrow an additional 1.7 trillion baht. (TNA)
