Medium-term fiscal plan set to be revised

The government is preparing to revise the medium-term fiscal plan and set out a fiscal consolidation framework to sustainably reduce the deficit, with the deficit expected to gradually decline after 2026.

- WICHIT CHANTANUSORNSIRI

Vorapak Tanyawong, the new deputy finance minister, said in a post on his personal Facebook page that exports are being pressured by US tariff rates of 19%, while tourism is recovering slower than expected, especially when it comes to Chinese visitors. As a result, GDP growth next year may tally only 2.2%.

He said the new government wants to address these issues despite a tenure of only four months.

“We have already started setting out a fiscal consolidation path to restore fiscal sustainability. In November, we will prepare a new medium-term fiscal framework," said Mr Vorapak.