Thailand’s expenditure budget for 2020 gets cabinet nod hinh anh 1Government Spokeperson Narumon Pinyosinwat (Photo credit: Royal Thai Government website)

Bangkok (VNA) –
The Thai Cabinet on September 3 gave the green light for an expenditure budget of 3.2 trillion THB (about 104.5 billion USD) in fiscal year 2020, up 6.7 percent from the previous fiscal year.

Local media cited Government Spokesperson Narumon Pinyosinwat as saying that the expenditure budget is divided into seven parts in accordance with seven national strategies.

Some 13.4 percent of the expenditure budget, or 428 billion THB, is allocated for national security, higher than that of the previous fiscal year which stood at 321.78 billion THB.

About 11.8 percent, or 380 billion THB, will be spent to improve national competitiveness while 17.9 percent, or 570 billion THB, is allocated for development of human resources.

Some 23.9 percent, or 766 billion THB, will cater for promotion of social equality while 3.7 percent, or 118 billion THB, will promote quality of living.

About 15.8 percent, or 500 billion THB, will be spent for the improvement of state management while the remaining 13.5 percent, or 431 billion THB, is reserved for unexpected spending in the future such as emergency and debt management.

The budget deficit in the fiscal year is forecast to rise by 4.2 percent year on year to 469 billion THB.–VNA