Four agencies keep 2027 budget ceiling at 3.788tn baht

Thailand’s four key government economic agencies reaffirmed the fiscal 2027 expenditure budget ceiling at the original level set by the Cabinet on November 25, 2025, at 3.788 trillion baht during their meeting with Prime Minister Anutin Charnvirakul on Wednesday, as the government sought to preserve fiscal discipline amid global volatility and energy uncertainty.

Original ceiling left intact

The agencies involved were the Ministry of Finance, the Bureau of the Budget, the Office of the National Economic and Social Development Council and the Bank of Thailand. Prime Minister’s Office spokeswoman Ratchada Thanadirek said the meeting agreed to keep the fiscal 2027 ceiling at the level previously endorsed by the Cabinet, which still represents a 7.4-billion-baht, or 0.2%, increase from fiscal 2026.

Net government revenue is projected at 3 trillion baht, up 79.4 billion baht, or 2.7%, from fiscal 2026, while borrowing to cover the deficit is set at 788 billion baht, down 72 billion baht, or 8.4%. The framework is consistent with the medium-term fiscal plan for 2027-2030 and remains within the state’s fiscal discipline rules.

Off-budget funds urged first

The government said the 3.788-trillion-baht ceiling is intended to support key policies at a time of heightened global instability, with conflict in the Middle East adding pressure on energy security and the broader world economy. Agencies were told to use off-budget funds first where possible and to consider other financing channels for public investment, including loans, public-private partnerships and the Thailand Future Fund, in a bid to reduce pressure on the national budget.

Anutin pushes zero-based budgeting

Anutin told the meeting that preparation of the 2027 budget must be “on target and precise”, align with the government’s “10 Plus” policy, and follow the principles of value for money and zero-based budgeting. He said agencies must weigh necessity, urgency and suitability under current conditions, and that any request for a larger allocation must not exceed 20% of the previous year’s level and must be limited to investment spending.

The Bureau of the Budget is due to submit the fiscal 2027 expenditure ceiling to the Cabinet for approval on Tuesday, April 28, with the review conducted under Section 24 of the Budget Procedures Act 2018, which requires annual budget policy and medium-term fiscal projections to be set out at least three years in advance.