Thai Cabinet Increases Budget For Fiscal 2008 To Bt 1.635 Trillion

The Thai cabinet today approved a revised government expenditure for the fiscal 2008, starting from this October 1, which rose to Bt1.66 trillion from Bt1.635 trillion earlier, said an assistant government spokesman.

Mr Chotichai Suwannaporn said that the cabinet gave the green light to increase the 2008 government budget by Bt25 billion and simultaneously reduce projected revenue to Bt1.495 trillion from Bt1.515 trillion, which would cause a budget deficit of Bt165 billion.

The projected budget deficit would represent 1.8 per cent of the gross domestic product (GDP), he said.

Of the total increase in the budget for fiscal 2008, Bt17 billion will be allocated for a salary increase for government civil servants, effective this October 1.