PM kicks off debate on Bt2.38 trillion budget
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Prime Minister Yingluck Shinawatra on Wednesday submitted the 2012 Budget Bill outlining Bt2.38 trillion spending on populist policies and post-flooding recovery efforts.
The government has earmarked Bt120 billion for flood recovery and restoration works. The water management budget is Bt40 billion.
Price intervention schemes for the farming sector will cost Bt90 billion.
The budget deficit is projected at more than Bt400 billion, accounting for 3.4 per cent of gross domestic product. The 2011 fiscal year saw the deficit at 3.7 per cent of GDP.
The public debt is estimated to stay within 40.22 per cent of GDP.
The economic growth rate for 2011 is estimated at 3.5 to 4.0 per cent. Next year’s growth is projected at 4.5 to 5.5 per cent while inflation will be capped at 3.0 to 4.0 per cent.
The budget debate is scheduled for today and tomorrow.
Opposition lawmakers are expected to be critical of what they see as lopsided allocations for populist policies and insufficient spending on post-flooding recovery efforts.
