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Thailand Plans $20 Billion Budget Deficit to Bolster Recovery

  • Nation needs expansive fiscal policy amid uncertainties: PM
  • Inflation seen returning to 0.5%-1.5% next year on supplies

Thailand will embrace a high budget deficit for a third year as it sticks to an expansive fiscal policy to support a recovery facing risks from high inflation and global uncertainties. 

The budget shortfall is estimated at 695 billion baht ($20 billion), or about 22% of the total outlay, in the fiscal year starting Oct. 1, according to preliminary plans presented to parliament Tuesday. It will be the third year in a row when the deficit has stayed above 600 billion baht, according to budget bureau data.