Oil Shock Pushes Thailand to Rework Budget to Hold Deficit

Thailand is reshuffling state spending to cushion the impact of an oil shock while keeping its deficit target intact, highlighting the strain the Middle East conflict is placing on public finances.

Prime Minister Anutin Charnvirakul’s government will maintain deficit target for fiscal 2027, starting Oct. 1, at 788 billion baht ($24.5 billion), according to a statement Wednesday. That compares with an estimated 860 billion baht deficit in the current year.