BANGKOK – Thailand’s government is planning to keep its budget deficit to no more than 3 percent of gross domestic product in the 2024 fiscal year, the finance minister said on Tuesday, aiming for a deficit of 593 billion baht .
Arkhom Termpittayapaisith also said the inflation target range of 1 percent to 3 percent was appropriate and monetary policy would ensure continued recovery of the economy.The inflation target will help maintain price stability and keep medium-term inflation expectations anchored, he told a news conference.
Headline inflation was 5.55 percent in November, far above the Bank of Thailand’s target range, but Arkhom said it would gradually fall back to within the target in 2023.
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