Cabinet okays revised fiscal blueprint

The cabinet has approved the revised medium-term fiscal framework (MTFF), which focuses on reducing expenditures and increasing revenues to bolster confidence among rating agencies.

- WICHIT CHANTANUSORNSIRI

According to Finance Minister Ekniti Nitithanprapas, government borrowing to compensate for the budget deficit must not exceed 3% of GDP by 2029. Public debt must not exceed 70% of GDP for the period.

In the fiscal 2026 budget, the government prepared a deficit budget of 4.4% of GDP. However, Mr Ekniti said earlier the draft fiscal 2027 budget, which is now being prepared, will show a substantial decline in the deficit-to-GDP ratio.