BANGKOK, Oct. 23 (TNA) - Thailand's top central bank official said the government's budget for next year of Bt100 billion (about US$2.7 billion) deficit is at an appropriate level for the country's economic development.
Bank of Thailand Governor-designate Tarisa Watanagase added that the faster the disbursement of the budget, the better it will be for the Thai economy.
The Cabinet last week approved the 2007 budget featuring a Bt100 billion deficit emphasising accelerated disbursement of expenditure.
Mrs. Tarisa said the deficit figure corresponds well with the current situation of the Thai economy. The level of deficit is equivalent to one per cent of the country's Gross Domestic Product.
Despite the impact of expensive energy imports, the Thai economy is faring well in the last half of this year with both strong export growth and inflation in check.
Budget disbursements to fund several major infrastructure development projects for the next budget year should have an impact of stimulating the economy, she said.
The 2007 budget totals Bt1.52 trillion (about US$40.8 billion), with projected government revenue of 1.42 trillion baht and thus the 100 billion in deficit.
